TransForce completes Quik X acquisition
TransForce announced it has completed the acquisition of all the shares of Quik X Transportation Inc. and Quik X Transportation (US), a transportation and logistics services provider, mainly in the expedited LTL market segment.
Headquartered in Ontario, Canada, Quik X has a network of 17 centers across Canada and the US, more than 600 employees and agreements with approximately 325 independent contractors. Quik X is an asset-light company with annual revenues of approximately $200m. The transaction is expected to be accretive to TransForce’s 2012 earnings.
“This acquisition further enhances TransForce’s density and capabilities in the niche expedited LTL market. Quik X is well recognized for its leading-edge technology and highly qualified employees. More importantly, its asset-light business model should provide a solid return on our investment and create additional shareholder value,” commented Alain Bédard, Chairman, President and Chief Executive Officer of TransForce.