Kriska Transportation Group has acquired two small fellow Canadian carriers, Trailwood Transport and Nexus Freight, expanding its automotive and local truckload businesses.
Kriska, which is partially owned by Mullen Group (TSX:MTL), announced the acquisitions on October 2. It did not disclose the price of the Ontario-based companies.
The larger of the two companies, Trailwood Transport, has 112 trucks and 385 trailers, specializes in domestic and cross-border automotive freight. Trailwood is headquartered in New Tecumseth, Ontario, the location of two Honda plants, which produce the Civic and CR-V.
"Trailwood's expertise in the automotive industry brings further diversification to our industry mix," Kriska CEO Mark Seymour said in a statement.
Nexus, based in nearby Alliston with 20 trucks and 12 trailers, will improve Kriska's local capacity, Seymour said.
The acquisitions represent a significant addition of 132 trucks to Kriska's fleet of more than 600.
Kriska made its last trucking acquisition in February, when it purchased cross-border carrier Icon Logistics. Kriska expanded its brokerage in May, with the acquisition of Champion Express.
With Trailwood and Nexus, Kriska now has 10 transportation and logistics companies under its umbrella.
"Trailwood and Nexus are great strategic fits," Seymour said.
Image Sourced from Google
See more from Benzinga
- Shifting Freight Demand From Truck To Rail Will Improve Air Quality, Study Finds
- CBP Presses Continuing Education For Customs Brokers
- Some Small Carriers Still Clinging To Old Telematics Devices Into Fourth Quarter
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.