Canadian transportation and logistics industry comglomerate TransForce Income Fund announced Tuesday, Nov. 27, that it has signed an agreement to acquire the shares of privately held Thibodeau Group of Companies. Closing of the acquisition, terms of which were not announced, is subject to regulatory approvals.
Headquartered in Portneuf, Quebec, Thibodeau is a less-than-truckload and truckload carrier, operating primarily in Quebec, Ontario and the United States. Founded in 1945, the business is led by its president, Pierre Thibodeau, son of the company founder. Thibodeau has a work force of 815 employees and has 1,530 tractors and trailers operating out of 14 terminals. In 2006, the group generated revenues of more than $80 million.
“Thibodeau is a well-established and successful business with an exceptional track record,” says Alain Bédard, chairman, president and chief executive officer of TransForce, based in Montreal, Quebec. “It will further strengthen our less-than-truckload and truckload operations in Eastern Canada. The Thibodeau name is well known and synonymous with the very best in our industry. We are delighted to have this trucking icon as a TransForce company.”