Surrey-based long-haul trucking company Coastal Pacific Xpress Inc. (CPX) has acquired Langley-based Alchemist Transport Inc., a hazardous materials transport company.
Scott McIntosh, CPX co-owner and president of operations, said Alchemist is a small company of approximately 15 employees relative to CPX’s 250; however, he said CPX has aggressive expansion plans for the niche business area.
“We’re hyper motivated for growth, and we intend to not only develop the marketplace in B.C. but in Alberta as well,” he said, noting that CPX has terminals in Calgary and Edmonton. He added Alberta has a strong market for hazardous materials transport.
“We have all of the infrastructure and all of the tools and all of the back office support and assistance to really develop this market into the future, whereas historically it’s been operated as a smaller company.”
McIntosh said that CPX has carried out other acquisitions previously, but that the company has been “largely static” in terms of physical growth in the last 12 months.
“We choose very, very carefully,” he said. “We’re presented regularly with opportunity, but we’re very cautious about what we tackle because there’s very few things on our horizon as far as acquisitions that make really good sense for us.”
The two private companies have not disclosed terms of the deal.
Earlier this year, CPX co-owner and president of administration Jim Mickey talked to Business in Vancouver about strategies the company employed to achieve profitability in the “god-awful” transportation landscape of 2010. (See “Weathering darker roads”– BIV Black Edition, issue 1117, March 22.)
Jenny Wagler
@ JennyWagler_BIV