Earlier this week, Winnipeg, Manitoba-based Bison Transport, an asset-based freight transportation services provider owned by James Richardson & Sons, Limited, said it has acquired Bangor, Maine-based truckload carrier Hartt Transportation Systems Inc.
Bison said it acquired 100% of the issued and outstanding shares of Hartt, but financial details of the transaction were not issued.
Established in 1948, Hartt is one of the largest truckload carriers in the Northeast, with more than 360 tractors and 2,100 trailers, as well as what Bison termed a sizable logistics offering. The company was founded by Delmont E. Hartt and then owned by his son, Billy Hartt, until it was subsequently acquired by Bison.
Bison added that Hartt’s success over the last 70-plus years has been driven by a long tenured and reputable customer base, low driver turnover, a focus on safety, a quality fleet and a strong company culture.
“These factors are similar to those that have allowed Bison to be successful, leading us to see a strong strategic fit between our companies,” said Bison in a statement.
“These are truly exciting times for all involved,” said Bison’s President & CEO, Rob Penner, in the statement. “I have had the privilege of meeting and spending time with the Hartt leadership team, and collectively we feel strongly about the cultural fit. There is a great energy in this business and the people have a strong desire to continue to grow and prosper in a responsible way. We believe this acquisition to be foundational in strengthening our cross-border offerings and establishing Bison Transport USA as a Tier 1 US Domestic fleet, well positioned to serve the growing needs of our customers.”
Bison Transport USA President Marc Wolding told LM that it has been a goal to expand Bison Transport USA’s footprint in the U.S. and become a more significant player in the North American Logistics scene.
“This helps us meet a portion of that goal,” he said. “This has been in the works for the greater part of the last eight-to-nine months.”
When asked what the main benefits of this deal are for Bison’s shipper customers, Wolding explained that confidence in knowing that existing service offerings will continue along with new alternative solutions covering a broader geographic area, adding that Bison will continue to offer a high level of service.
“There are some customers who were served both by Bison Transport USA and Hartt Transportation, but, in most instances, markets served were different,” he said. “The majority of customers for Bison Transport USA and Hartt were not the same. Bison Transport USA did very little sub-contracting in markets served by Hartt Transportation.”
As for the main competitive advantages, or benefits, of this deal, for Bison, Wolding pointed to: more diversified offerings to customers; enhanced driving job opportunities; a bigger footprint in the North American freight market; and consolidation of best practices from both Bison Transport USA & Hartt Transportation making the whole stronger.
This article was originally published on Logistics Management.