Trimac Income Fund announced that Trimac Transportation Services Limited Partnership has completed the purchase of all of the issued and outstanding shares of Canamera Carriers Inc., a bulk trucking and warehousing company involved in the transportation and warehousing of fertilizer, agricultural products and road salt in the provinces of Saskatchewan, Alberta and Manitoba.
The purchase price for the business was C$2.9 million and includes a fleet of 19 company-owned tractors and 24 trailers with annual revenues in its last completed fiscal year of about C$7.9 million. The transaction also involved assumed net debt in the amount of about C$1.3 million. Canamera is based out of Yorkton, Saskatchewan, and operates its trucking and warehousing business out of three leased properties.
“The acquisition of Canamera Carriers fits well within Trimac’s diversification strategy by providing expanded services in the fertilizer and agricultural product business, and expands our footprint in the Saskatchewan marketplace,” says Edward Malysa, chief operating officer of Calgary-based Trimac.
Trimac Income Fund is an unincorporated open-ended limited purpose trust created for the purpose of acquiring and holding an indirect interest in Trimac, Canada’s largest provider of bulk trucking services with operations from coast to coast. In addition, through its wholly owned subsidiary, Bulk Plus Logistics Limited Partnership, Trimac provides third-party transportation logistics services in Canada and the United States.