Polaris Transportation Group Acquires Canadian Truckload, Warehousing Firm
Polaris Transportation Group announced it has acquired chemical hauler J.G. Drapeau Ltd. and sister firm Commercial Warehousing Ltd. as part of a plan to grow and diversify its business. All of the companies are based in Toronto.
Polaris provides primarily scheduled less-than-truckload freight service between the United States and Canada along with freight brokerage services and U.S.-based distribution for Canadian shippers.
J.G. Drapeau operates a fleet of 60 trucks and specializes in hauling chemicals and hazardous materials.
“We are thrilled to be welcoming another best-in-class company to the PTG family,” Larry Cox, president of Polaris, said in a statement May 3. “Drapeau is an award-winning carrier with a top-tier safety record, strong management team and consistent financial performance over their 47 years in the industry.”
Current management at J.G. Drapeau and Commercial Warehousing will remain in place with Margaret Hogg serving as general manager, Cox said.
“We’re incredibly proud of the business we have built,” said George Hogg and Jocelyne Hogg, co-founders of J.G. Drapeau and Commercial Warehousing. “The next generation of leaders will benefit from all of the opportunities a large organization like Polaris can bring.”
The Hoggs added, “Polaris’ operational focus, with a passion around safety and well-being for employees, makes them an excellent fit for our team and long-standing customers and suppliers.”
Polaris is the largest privately owned cross-border LTL carrier in Canada. The addition of J.G. Drapeau and Commercial Warehousing is expected to generate revenue of C$100 million in 2018 for Polaris, said Jon Saunders, vice president of finance.
“We are a pure play cross-border LTL carrier,” Saunders said in an interview with Transport Topics. “We estimate that we have about 10% to 15% of the market.”
Saunders said that the company uses a mix of company-owned equipment and owner-operators and owns a fleet of about 250 trailers. The company offers service to and from all points in Canada and the United States and provides a combination of direct service and freight interchanges with U.S.-based local and regional LTL carriers, including Averitt Express and A. Duie Pyle Inc.
Polaris has roughly doubled in size over the past five years, Saunders said.
The company was started by Larry Cox in 1994 and made its first acquisition in 2002 with the purchase of a U.S. distribution carrier in Cleveland that now operates as Polaris Motor Freight.
Saunders said Polaris is looking at additional acquisitions and will focus on asset-light logistics operations and specialized freight carriers.
