Kelron Logistics, a Burnaby transportation broker, has been acquired by XPO Logistics Inc. for $8 million.
Kelron was founded in 1992 and employs roughly 30 people in Burnaby. According to XPO CEO Brad Jacobs, those numbers could triple over the next five years to about 90.
Kelron provides automated dispatch, dock and freight scheduling for the transportation industry. The company also brokers refrigeration trucks for produce and other temperature-sensitive products and intermodal transportation services that includes double-stacking of trailers for rail transportation.
About 40% of Kelron's business has been cross-border, but XPO found that it was the company's Canadian business that has the most profit potential.
"When we analyzed the profitability of their business, their Canadian business was the most lucrative, so we're going to try to double down and go deeper in the Canadian business," Jacobs told Business in Vancouver.
"With effort and execution, Kelron could be a $300 million company within a few years by adding more sales people."
