Clarke Inc. Completes Sale of Its Freight Transportation Business to Transforce

Clarke Inc. completed the sale of its truckload, less-than truckload and freight logistics businesses (Freight Transport Business) to TFI Holdings Inc., a wholly owned subsidiary of TransForce Inc. Clarke received total net proceeds of approximately $100.5 million.

Clarke Inc. is a diversified investment holding company. Headquartered in Halifax, Clarke Inc. and its subsidiaries have offices across Canada.

TransForce Inc. is a North American leader in the transportation and logistics industry operating across Canada and the United States through its subsidiaries. The Freight Transport Business operates a network of 15 terminals across Canada and employs a total of more than 600 staff and independent contractors. The sale is expected to generate annual revenues of approximately $190 million.

Clarke was represented by Bennett Jones LLP with a team that included Christian Gauthier, Russel Drew and Claire Webster (corporate and securities); Thomas Bauer and Martin Sorensen (tax); Adam Kalbfleisch and Kyle Donnelly (competition), and Robert Bothwell (real estate).

TFI was represented by a team led by Josiane-Melanie Langlois, VP Legal Affairs and Corporate Secretary, and represented externally on competition matters by Heenan Blaikie LLP with a team that included Jon Smithen and Gregory McLean (competition).