CALGARY, Dec. 5 /CNW/ - Trimac Income Fund (the "Fund") (TSX Symbol TMA.UN) announced today that Trimac Transportation Services Limited Partnership ("Trimac") has completed the purchase of all of the issued and outstanding shares of Canamera Carriers Inc. ("Canamera"). Canamera is a bulk trucking and warehousing company involved in the transportation and warehousing of fertilizer, agricultural products and road salt in the Provinces of Saskatchewan, Alberta and Manitoba.
The purchase price for the business was $2.9 million and includes a fleet of 19 company owned tractors and 24 trailers with annual revenues in its last completed fiscal year of approximately $7.9 million. The transaction also involved assumed net debt in the amount of approximately $1.3 million. Canamera is based out of Yorkton, Saskatchewan and operates its trucking and warehousing business out of three leased properties.
In commenting on the acquisition, Edward Malysa, COO, said: "We are excited to have Canamera Carriers become a part of the Trimac organization. The acquisition of Canamera Carriers fits well within Trimac's diversification strategy by providing expanded services in the fertilizer and agricultural product business and expands our footprint in the Saskatchewan marketplace."
The Fund is an unincorporated, open-ended limited purpose trust created for the purpose of acquiring and holding an indirect interest in Trimac.
Trimac is Canada's largest provider of bulk trucking services with operations from coast to coast. In addition, through its wholly owned subsidiary, Bulk Plus Logistics Limited Partnership, Trimac provides third party transportation logistics services in Canada and the United States. Trust units of the Fund are traded on The Toronto Stock Exchange under the symbol TMA.UN.