A company that handles trucking in Guelph and across Canada, Bison Transport, recently acquired the intermodal assets of the Indianapolis-based Celadon Group in a transaction on April 26.
Bison Transport published a release on the acquisition, revealing that it also includes Celadon’s container-on-flat car intermodal operations (COFC), plus their operating personnel, drivers, customers, as well as supplier relationships.
According to the company, Bison, which reaches trucking in Guelph, across Canada, and North America, will be able to expand their intermodal service, as well as its ability to support cross-border shippers, not just in the US and Canada, but also in Mexico.
Bison Vice President of Logistics and Multimodal, Brad Chase, says that the company’s intermodal business platform is about five times the size that it was in 2014, and that this recent acquisition is a strategic move that supports their corporate goal of continued growth in their asset-light business platforms.
Chase also stated that they’re looking forward to working with the people who’ll be joining the Bison team; staff, customers, and suppliers alike, as they move forward into the next phase of their intermodal growth.
Neither companies divulged any financial details on the acquisition.
Celadon Group has been in a bit of a financial pickle, ever since the US Securities and Exchange Commission launched an investigation looking into the company’s past accounting practices. On April 25, not soon before the acquisition, the company was mandated to pay $42.2 million to their shareholders after confessing that its prior management team had committed several securities fraud violations.
Prior to that, the company was forced to sell its brokerage and third-party logistics group to the Texan company, TA Services, in Mansfield, for $60 million on April 22.
Notably, Bison and its subsidiaries have been making moves on the market, with this acquisition being the latest transaction by the company. Earlier in April, Bison acquired H.O. Wolding Inc. (HOW), a trucking company based in Amherst, Wisconsin with a 320-truck dry van fleet.
Bison Transport is one of the largest carriers in Canada, incorporated in 1969 by Duncan M. Jessiman, the company’s owner, chairman, and sole shareholder.