Canadian trucking company Bison Transport acquired all of the intermodal assets of Indianapolis, Indiana-based Celadon Group Inc. on April 26.
The acquisition includes Celadon’s container-on-flat-car intermodal operations (COFC), as well as its operating personal, drivers, customers and supplier relationships, Bison said in a release.
The acquisition will expand Bison’s intermodal service and its ability to support cross-border shippers in the U.S, Canada and Mexico, the company said.
“Our intermodal business platform is approximately five times larger than it was five years ago,” said Brad Chase, vice president of logistics and multimodal of Bison. “This strategic move supports our corporate initiative for continued growth in our asset-light business platforms.”
Financial details of the acquisition were not disclosed.
Celadon Group has been besieged by financial woes since the U.S. Securities and Exchange Commission launched an investigation into its past accounting practices. On April 25, Celadon was ordered to pay its shareholders $42.2 million after admitting securities fraud violations were committed by its prior management team.
The company also sold its brokerage and third-party logistics group to TA Services of Mansfield, Texas, for $60 million on April 22.
The acquisition of Celadon’s intermodal assets is the latest in a string of purchases for Bison Transport and its subsidiaries, including Britton Transport, a cross-border logistics company, headquartered in Grand Forks, North Dakota.
Earlier in April, Bison acquired H.O. Wolding Inc., or HOW, a 320-truck dry van fleet headquartered in Amherst, Wisconsin.
Bison Transport, one of the largest carriers in Canada, is headquartered in Winnipeg, Manitoba. The company was incorporated in 1969 by owner Duncan M. Jessiman, Bison’s chairman and sole shareholder.
The company offers full truckload services, full-service logistics, intermodal, less-than-truckload, dedicated fleet operations, yard management and warehousing and distribution.
“We welcome and look forward to working with the staff, customers and suppliers who will be joining us as we enter a new and exciting phase of Bison’s intermodal growth,” Chase said.