Celadon Trucking Services, a wholly-owned subsidiary of Celadon Group, Inc., announced that it has agreed to acquire Hyndman Transport Limited, based in Wroxeter, Ontario. Hyndman operates approximately 175 tractors and generated approximately $48 million in revenue in 2012, comprised of both domestic Canadian shipments and international shipments between Canada and the United States.
With this acquisition, Celadon officials said the company will further expand its presence in Canada and continue to grow its international footprint. Celadon will be maintaining the 21-acre Hyndman terminal and facility in Wroxeter, ON, while continuing to operate its Celadon Canada operation in Kitchener, ON. In addition, Mike Campbell, Hyndman president, and Jeff Sippel, Hyndman CFO, will remain with Celadon and continue to manage this business under the direction and guidance of Celadon’s corporate team and long-term strategies.
“Hyndman has been a well-respected Canadian truckload carrier that has provided a high level of dry van freight services for its customers since 1937,” stated Paul Will, president and CEO, Celadon Trucking. “We believe this acquisition offers solid potential to expand our domestic Canada footprint and advance our overall growth plans by delivering growth in our dry van, cross border transportation service offering. We’re excited to work with Mike Campbell and Jeff Sippel, who will continue to help manage and service existing Hyndman business. We look forward to continuing to provide the quality service that the Hyndman core account base has come to expect. Based on previous acquisitions, we believe we can actually enhance that service through upgraded equipment, advanced technology, additional assets available for dispatch, and an industry leading safety record.”
Additional terms and conditions of the transaction were not disclosed.
