Coteau-du-Lac, QC – C.A.T. Inc announced the acquisition of Penner International, a 300-plus truck operation based out of Steinbach, Manitoba.
C.A.T. President, Daniel Goyette commented: “We have taken significant steps in the recent years to grow our business. The acquisition of SLH in 2018 offered C.A.T. an entrance into Western Canada which is an area we hadn’t been before. Once we understood the business in the west, we recognized great potential for us to continue to grow. We spent 2019 putting the right team in place, then we searched for where we could invest to continue to develop our western business.”
Both Penner and C.A.T., are third-generation family-run businesses, similar in size and customer base and most importantly, similar in culture, added Goyette. “Mr. Penner believed it important that whoever would take over believed and instilled a family culture and treated employees with respect. In addition, he wanted to ensure whoever would be his successor had proven experience to grow the business. The fact that C.A.T. has been awarded Canada’s Best Managed companies for 5 consecutive years assured Mr. Penner transitioning to C.A.T. was the correct next step for Penner International.”
Penner International will remain a separate division of C.A.T. Inc. “C.A.T. Inc is focused on helping support our customers reach across Canada, throughout the USA and Mexico and therefore continuing to develop Western Canada through organic sales growth and strategic acquisitions like Penner International are the logical next steps in our company’s evolution. I am thrilled to welcome them to our family and focused on ensuring a bright future together.”