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T.F. Boyle Transportation, a truckload carrier and provider of specialized transportation logistics, is being acquired by health care supply chain specialist Andlauer Healthcare Group Inc. in a deal valued at $80 million.
Boyle is a Billerica, Mass.-based carrier specializing in carrying freight for the life sciences sector, which comprises about 75% of its business, while the remaining 25% of its freight comes from the government/defense sector.
Vaughan, Ontario-based AHG is a supply chain management company offering customized third-party logistics and specialized transportation for the health care sector.
The sale price includes $60 million in cash and another $20 million in AHG stock.
“We’re excited to join the Andlauer team,” Boyle Transportation Co-Presidents Andrew and Marc Boyle said. “As part of the highly regarded AHG platform, we will be able to offer a broader suite of services to our valuable clients. We are confident that this strategic move will help Boyle Transportation continue to be the provider of choice to clients and the employer of choice to transportation and logistics professionals in the U.S.”
“We are thrilled to be welcoming the Boyle Transportation team to Andlauer Healthcare Group,” AHG CEO Michael Andlauer said in an Oct. 5 statement on the deal. “Boyle is a leader in the temperature-sensitive life sciences sector and brings complementary security and visibility capabilities to the defense sector.”
AHG also announced the acquisition of an additional 51% stake in Skelton USA Inc., a 75-truck, 100-trailer company that transports temperature-sensitive pharmaceuticals, plasma products, biologics and vaccines. The price was C$50 million, split 50/50 in cash and stock. In March, AHG acquired 49% of Skelton USA and 100% of Skelton Canada.
“Our acquisition of the remainder of Skelton USA coupled with Boyle Transportation significantly advances our strategic expansion into the U.S. health care market. Boyle and Skelton USA have a strong commitment to customer-focused care and a people-first approach, which are core values of the Andlauer Healthcare Group,” Andlauer said.
According to a joint statement from the three companies, Boyle and Skelton’s current leadership and management teams are expected to remain with AHG.
Last December, as part of Operation Warp Speed — the joint federal effort between government and private industry to develop and distribute a COVID-19 vaccine — Boyle was among the first fleets to transport the vaccine from Pfizer’s Global Supply manufacturing plant to distribution points across the country. The company is a subcontractor for Atlanta-based UPS Inc. Boyle’s trucks were at the Pfizer facility as the initial vaccine distribution began Dec. 13.
As the vaccines were being delivered, Andrew Boyle told Transport Topics his company was proud to play a role in the effort.
“There have been heroic efforts by the drug developers, the clinical trial participants and the regulators to get this far, but the execution will rely in large part on blue-collar transportation and logistics professionals,” he said. “These are people at the loading docks, the professional truck drivers, the airfreight handlers, the package sorters, the delivery drivers. All the people we work with and represent will play a vital role, and they’re patriots, and they’re proud to help.”
The Boyle and Skelton deals are expected to close in the fourth quarter of 2021. The Toronto Stock Exchange must approve both, while the Boyle purchase requires approval from the U.S. Defense Counterintelligence and Security Agency due to the type of freight it hauls.
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