Trimac Transportation Ltd. has taken control of another Canadian bulk trucking rival, completing its acquisition of a 60% stake in the parent of bulk liquids hauler Fortress Trucking Ltd. for C$4.4 million.
Trimac will buy another 20% of Guelph, Ontario-based Fortress on March 29, 2014. A year after that, Trimac buys the remaining 20%, he said. The total purchase price for all of Fortress will be C$7.5 million.
Fortress Trucking’s previous owner, Robert Clement, will continue to run the independently for two years, Trimac said.
Trimac is part of the Trimac Group, which also operates in the United States and is ranked No. 41 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.