Celadon Trucking Services, Inc., a wholly-owned subsidiary of Celadon Group, Inc. (CGI), said Wednesday that it has agreed to buy Hyndman Transport Ltd., based in Wroxeter, Ontario.
Hyndman operates about 175 tractors and generated about $48 million in revenue in 2012, comprised of both domestic Canadian shipments and international shipments between Canada and the United States.
Additional terms and conditions of the deal were not disclosed.
With the acquisition, Celadon 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 that business under the direction and guidance of Celadon's corporate team and long term strategies.
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