Mergers and acquisitions are off to their fastest start to a year ever in Canada, driven by a combination of cheap financing for buyers, high valuations for sellers and an improving economic outlook that’s encouraging companies to make major moves.
Recent company mergers and initial public offerings have brought the value of trucking companies to the forefront.
Beacon Roofing Supply Inc. has agreed to acquire Allied Building Products Corp., based in East Rutherford, N.J., for $2.6 billion.
Two major truckload carriers have announced purchases, and one of the transactions will unite companies ranked among the Transport Topics Top 100 list of the largest North American for-hire carriers: Heartland Express and Interstate Distributor Co.
Heartland Express Inc. has purchased Interstate Distributor Co. from owner Saltchuk Resources Inc. in a $113 million deal that is the latest in a flurry of mergers and acquisitions in 2017.