Celadon Trucking Services, part of Celadon Group, has agreed to acquire Hyndman Transport, based in Wroxeter, Ontario.
Additional terms and conditions of the transaction were not disclosed.
Hyndman operates about 175 tractors and generated approximately $48 million in revenue in 2012, comprising domestic Canadian shipments and international shipments between Canada and the U.S. With this acquisition, Celadon will further expand its presence in Canada.
Celadon said it will keep the 21-acre Hydnman terminal and facility in Wroxeter, while continuing to operate its Celadon Canada operation in Kitchener, Ontario. Mike Campbell, Hyndman president, and Jeff Sippel, Hyndman CEO, will remain with Celadon and continue to manage the business under the direction of Celadon’s corporate team.
“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,” said Paul Will, president and CEO of Celadon Trucking, in a written statement.