MISSISSAUGA, Ont. — Trimac has announced its intention to purchase Ontario-based Liquid Cargo Lines (LCL).
Trimac plans to purchase all issued and outstanding shares in the company and take over its 13-acre property which will then be sold to a party related to Trimac and leased back to Liquid Cargo Lines. The closing is expected to occur in the third quarter of this year, Trimac announced.
Liquid Cargo Lines has been in business since 1953, providing specialized bulk transport through Ontario, Quebec and the US with a focus on chemicals and asphalt. Its assets include its 13 acres of real estate, 50 trailers and 23 company-owned power units. Fifteen owner/operators also work for the company.
“Trimac is extremely pleased to have the employees of LCL join the Trimac team,” said Ed Malysa, president and COO of Trimac. “LCL is a very strategic acquisition on several fronts. LCL’s team of approximately 45 professional drivers will allow Trimac to grow its chemical and asphalt bunker product offering in central and eastern Canada. In addition, we gain 10 professional mechanics to grow our National Tank Services (NTS) segment. The 13-acre property includes mechanical shop facilities, commercial tank washing (currently leased and operated by NTS), administrative offices and parking. The property is strategically located and will facilitate Trimac’s future growth requirements in this key geographic market.”