Dynamex Inc., a Dallas-based provider of same-day delivery and logistics services in the United States and Canada, on Wednesday, Feb. 23, announced the completion of its acquisition by TransForce Inc. The company’s stockholders will receive $25 in cash for each share of Dynamex common stock owned by them, and the company’s common stock no longer will be listed for trading on NASDAQ.
“The completion of our deal with TransForce marks an important milestone for Dynamex,” says James Welch, president and chief executive officer. “We are excited to begin the next chapter of our corporate growth and are proud to be joining the TransForce family. TransForce recognized the value proposition we have developed over the last 20 years, and they share our vision for growth and our commitment to customer service.”
Dynamex on Feb. 18 announced that its stockholders had approved the merger agreement to provide for the company’s acquisition by TransForce. Dynamex on Dec. 14 terminated a merger agreement previously entered into with an affiliate of Greenbriar Equity Group and entered into the merger agreement with TransForce.
Welch says the transaction is “a strong endorsement of our business model and provides significant new growth opportunities for both companies. Dynamex will benefit from the experience, geographic reach and synergies provided by TransForce.”
Alain Bédard – TransForce chairman, president and CEO – says Dynamex adds a respected brand to the company’s package and courier capability. “Its same-day delivery enhances service to existing customers, while the combination of TransForce and Dynamex constitutes a powerful offering to potential new clients,” Bédard says. “Importantly, incorporating Dynamex’s services will open doors for TransForce in the U.S. market. We are confident that the combination of TransForce and Dynamex will yield attractive synergies with our existing divisions.”