C.A.T. acquired Penner International on Monday in a bold acquisition that expands the cross-border carrier’s footprint in western Canada and increases its fleet by about 50%.
C.A.T. aims to ramp up its east-west moves in Canada with the addition of the Manitoba-based truckload carrier. The acquisition also will improve C.A.T’s cross-border network with Penner’s business in the Western United States.
Purchasing Penner represents a major expansion of C.A.T.’s fleet, adding more than 300 tractors to the existing 600.
“We’re very excited about this,” C.A.T. Vice President Marc Blanchette told FreightWaves.
C.A.T. found a natural fit in Penner, with a diverse truckload business that includes original equipment manufacturers, commodities and other freight.
It also builds on C.A.T. ‘s existing presence in western Canada from its 2017 purchase of Ontario-based SLH, also its last acquisition.
“This will help us leverage our network for east-west moves,” Blanchette said.
Family-owned Penner will operate as a division within C.A.T. with the existing management in place.