Canadian environmental services company Aevitas has acquired flatbed carrier Fast Lane Freight Services.
Aevitas specializes in hazardous waste management, including waste disposal, wastewater treatment, recycling and other environmental services. The company owns and operates nine facilities and a fleet of specialized trucks.
Founded in 2002, Winnipeg, Manitoba-based Fast Lane Freight Services operates an open deck fleet and provides third-party logistics services throughout Canada and the United States. The carrier provides full and less-than-truckload transportation as well as brokerage services.
Management from Fast Lane Freight Services is expected to stay on for a “pre-determined amount of time” to “ensure the seamless transition,” according to the announcement from Fast Lane Freight Services.
‘We would like to extend our congratulations to everyone involved in this purchase and extend a huge friendly Manitoba welcome to the team at Aevitas. We look forward to working together,” said Darren Lane, former president and now manager at Fast Lane Freight Services.
Financial terms of the transaction were not disclosed. Fast Lane Freight Services said the deal was effective June 1.
Canadian transportation mergers and acquisitions have ramped up in recent weeks.
TFI International (NYSE: TFII) acquired container transportation and storage company Gusgo Transport last week. In May, Joseph Haulage Canada acquired agriculture and food hauler Bergland Transport, and Kriska Transportation System was involved in a drayage transaction when it purchased the intermodal division of Wills Transfer.
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