MONTREAL, QC — Illinois-based private equity investment firm Wind Point Partners bought a majority stake in Montreal-based trucking company Dicom Transportation Group.
Wind Point said Dicom’s co-founder, Peter Overing, will retire as CEO and will be replaced by Scott Dobak, who has worked in the trucking and delivery industry for 28 years, including at RoadRunner Transportation. The rest of Dicom’s management, including President Pierre Poliquin, will remain with the business and will continue to maintain a significant ownership stake in Dicom.
Dicom’s board will have several directors with experience at larger transportation companies including a former CEO of Purolator.
Dicom offers small parcel courier, less-than-truckload and truckload transportation services along with logistics and transportation management services. Dicom operates under the Dicom Express, GoJiT and JiT24.7 brands and generates approximately $175 million in annual sales, according to Wind Point.
The firm said it expects to grow Dicom through a “robust acquisition program” and financing was arranged by Fifth Third Bank and the Desjardins financial group with participation from Laurentian Bank and others.
Cost of the purchase was not disclosed.
Dicom’s acquisition program focuses on acquiring courier, LTL and transportation management providers in Quebec, Ontario and the United States. In addition, Dicom is seeking third party logistics providers who manage transportation, logistics and supply chain functions for businesses in Canada and the U.S. Acquisition targets will also include carriers and third-party logistics providers who manage and facilitate cross border trade among Canada, the U.S. and Mexico.