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				TransForce Closes Deal on Texas-based Express Courier
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					Posted: 
					
						Feb 7, 2013 10:10 AM
					
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					Last Updated: Feb 7, 2013 10:10 AM
				
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				<p>MONTREAL &mdash; TransForce completed the acquisition of all the shares of Texas-based Velocity Express and its subsidiaries. The transaction is expected to generate annual revenues of approximately $160 million.</p>
<p>The "asset-light" acquisition, said Alain B&eacute;dard, chairman, president and CEO of TransForce, "enhances TransForce&rsquo;s density and capabilities in the same-day North American package and courier market. We expect the transaction to provide a sound return on investment to the benefit of our shareholders.&rdquo;</p>
<p>Velocity, which provides customized, same-day regional delivery, has more than 80 locations across the U.S. and Western Canada, and 2,600 staff and independent contractors.</p>
<p>Bedard welcomed the employees to TransForce, adding "The combination of our skills and know-how creates a more powerful service offering in this market niche."</p>
			
				
				
			
				
				
			
			
			
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