Trimac Acquires Liquid Cargo Lines
By Anuja Abraham
Trimac Transportation Ltd. has completed its acquisition of all of the issued and outstanding shares in the capital of Liquid Cargo Lines Limited (LCL). Trimac acquired the shares of LCL from McCaig Real Estate Ltd., an affiliate of Trimac, for a purchase price of $1,986,000.
LCL has provided specialized bulk transportation deliveries throughout Ontario, Quebec and the United States with a focus in chemicals and asphalt. The assets of LCL include 42 trailers, 22 company owned power units in addition to 8 owner operator units and a lease of a 13 acre property in Mississauga, Ontario.
In commenting on the transaction, Ed Malysa, President and Chief Operating Officer of Trimac, stated “Trimac is extremely pleased to have completed the acquisition of LCL and welcomes its employees to the Trimac team. The 13 acre Mississauga property includes mechanical shop facilities, commercial tank washing (currently leased and operated by NTS), administrative offices and parking. The property is strategically located and will facilitate Trimac’s future growth requirements in this key geographic market. By leasing the LCL facility, rather than purchasing it, Trimac can employ a higher amount of its available capital to earn more attractive financial returns in its trucking and non-trucking operations.”