TFI Acquires MCT Transportation
TFI International recently purchased the assets of MCT Transportation, a refrigerated and dry van subsidiary of Comcar Industries.
Image: TFI International
TFI International recently purchased the assets of MCT Transportation, a refrigerated and dry van subsidiary of Comcar Industries.
The deal includes $9.6 million for the assets, including accounts receivables, as well as $2.8 million for two properties located in Florida and Arkansas. Comcar and its subsidiaries filed for Chapter 11 bankruptcy protection in May.
“We are excited to welcome the MCT team to TFI International to help enhance our truckload capabilities in the U.S.,” said Alain Bedard, chairman, president and CFO of TFI International. “MCT has strong overlap with our existing customers, allowing us to provide service across an expanded region, as well as overlap in multiple facilities which we can leverage to drive significant efficiencies.”
MCT Transportation is based in Sioux Falls, South Dakota, and delivers packaged food, agricultural, medical, and automotive products throughout the Southeast and Midwest U.S. It operates more than 130 tractors and has 90 owner-operators working for it, and owns 340 reefer trailers and 275 dry vans.
TFI also recently purchased CT Transportation from Comcar, a flatbed, bulk liquid, and dry van trucking operator, paying $15 million for its assets. MCT and CT will join Joplin, Missouri-based CFI and Eagan, Minnesota-based Transport America in TFI’s truckload division.
Earlier in June, TFI acquired Ontario-based drayage company Gusgo Transport, and in March the company bought the Courier Services business of R.R. Donnelley.
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