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Premier Bulk Systems acquired 3PL Ark Traffic Solutionsthe bulk liquids carrier announced last month.
The deal expands Premier’s footprint in Ontario, where the carrier is based north of Toronto. Ark Traffic Solutionsbased in St. Catharines, provides TL and LTL dry van, reefer and intermodal services, as well as tankers, hazardous materials and uncontrolled tenders.
“The addition of Ark’s capabilities to our Canadian network significantly expands the breadth of our service offerings for our Canadian customers,” said Kevin Berry, president of Premier Bulk Systems, in a statement as part of the announcement.
Terms of the deal were not disclosed, and a spokesman for Oak Brook, Illinois-based Heniff Transportation Systems, Premier’s parent company, did not immediately return a message seeking comment.
The acquisition follows other deals the business made last year. Between them, Premier extended to the Quebec market by opening a terminal, and Heniff also acquired Waxahachie, Texas based Coal City Cob.
Trucking acquisitions tend to mirror mergers and acquisitions 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’s usually a good thing when people feel better about things,” he said, adding that there are times when a company like Knight-Swift Transportation Holdings can buy a troubled asset, as it did with US Xpress Enterprises , and give the business cyclical leverage when the market recovers.