Kriska Transportation Acquires Quebec-Based Carrier
KTG, headquartered in Prescott, Ontario, also owns Kriska Holdings Ltd. and Mill Creek Motor Freight. The company specializes in cross-border truckload freight.
CEO Mark Seymour said KTG has been actively looking at acquisition opportunities in eastern Canada since its formation in late 2014 by Kriska Holdings and Mullen Group.
“As we stated when we formed KTG last year, we believe the truckload market in eastern Canada will continue to experience significant consolidation and that our shareholders, employees and customers will all benefit from the stability and leverage that a larger organization offers,” Seymour said in the April 8 announcement.
JMF Transport will continue to be led by its current management, KTG said.
“We look forward to enjoying the economies of scale that KTG can bring to our company while still being able to operate our business in the independent manner that has made us successful since our inception in 1967,” JMF General Manager Stephan Brizard said.
JMF Transport currently operates 65 tractors and 152 trailers.
The acquisition expands KTG’s fleet to 535 tractors and 1,650 trailers. KTG said it now employs 750 people, including owner-operators.
When Kriska Holdings and Mullen Group first announced their joint investment in KTG in September, they described the new firm as a “growth-oriented” transportation and logistics company. Seymour contributed his interest in Kriska Holdings to KTG in exchange for a 70% equity interest in KTG, and Mullen Group contributed its interest in Mill Creek Motor Freight in exchange for 30% interest in the new company.
