Premier Bulk Systems acquired 3PL Ark Traffic Solutions, the bulk liquid transportation provider announced last month.
The deal expands Premier’s Ontario footprint, where the carrier is based north of Toronto. Ark Traffic Solutions, based in St. Catharines, provides TL and LTL dry van, reefer and intermodal services as well as tanker, hazardous materials and non-regulated offerings.
“Adding Ark’s capabilities to our Canadian network significantly expands the scope of our service offerings for our Canadian customers,” Kevin Berry, president of Premier Bulk Systems, said in a statement as part of the announcement.
Terms of the deal weren’t disclosed and a representative from Oak Brook, Illinois-based Heniff Transportation Systems, Premier’s parent company, didn’t immediately return a message seeking comment.
The acquisition follows other deals the business made last year. Among them, Premier expanded into the Québec market with the opening of a terminal, and Heniff also acquired Waxahachie, Texas-based Coal City Cob.
Trucking acquisitions tend to mirror M&A in other industries, rising when the market does, Citi Managing Director and Head of Global Transportation Research Chris Wetherbee told Trucking Dive.
“Just like broader M&A activity, it typically is good when people are feeling better about things,” he said, adding that there are times a company such as Knight-Swift Transportation Holdings can buy a distressed asset, like it did with U.S. Xpress Enterprises, and give the firm cyclical leverage when the market comes back.
