Canadian freight and express group TransForce has expanded its delivery services in the USA with the acquisition of a regional final-mile delivery company.
The Montreal-based group has bought Hazen Final Mile from US trucking firm Hazen Transport for an undisclosed sum. The delivery business, based in Michigan, has annual revenues of US$45 million and operates in 17 major US metropolitan areas with a fleet of more than 300 vehicles.
Hazen Final Mile, whose customers include several Fortune 500 retailers, manufacturers and distributors, will retain its brand and network but become part of Dynamex, the US same-day delivery network owned by TransForce.
The acquisition is the latest in a series of takeovers made by TransForce in recent years to expand its business both in Canada and the USA. Over the last year it acquired trucking firms Contrans, Transport America and Vitran as well as Ensenda, a California-based same-day and last-mile delivery firm.
In 2014, the group’s revenues increased by19% to C$3.7 billion and the operating profit improved to C$275 million. The Package and Courier division, based around Dynamex and Loomis Express (formerly DHL Express Domestic Canada), increased revenues to C$1.3 billion and improved EBIT to C$91.2 million.
