TransForce to acquire Velocity Express

From the January 2013 issue.

North American logistics expert, TransForce, has announced the acquisition of US transport business, Velocity Express, and all its subsidiaries.

Headquartered in Stafford, Texas, Velocity operates a network of more than 80 locations across the United States and Western Canada, employing a combined total of approximately 2,600 staff and independent contractors. Velocity is specialised in customised, same-day regional delivery solutions, offering an extended range of services in delivering packages of any size.

“The acquisition of Velocity further enhances TransForce’s density in the same-day North American package and courier market and reflects our disciplined and selective approach in building our network. A trusted provider of customised, sameday regional delivery services in the United States for nearly 20 years, and a well-established player in Western Canada,” said Alain Bédard, Chairman, President and Chief Executive Officer of TransForce.

The transaction is expected to generate annual revenues of approximately $160 million for TransForce and should close by the end of this month. Shares in the Montreal-based company rose the most in almost six months after the deal was announced.

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