Trimac Transportation Ltd is now a privately held company. The privatization transaction was approved by Trimac's shareholders on June 28 and the Court of Queen's Bench of Alberta on June 29, 2016.
As a result, Trimac officials anticipate that the company’s shares will be delisted from The Toronto Stock Exchange at the close of business on or about July 6, 2016. Pursuant to the transaction, all of the outstanding Trimac shares other than those owned by the parties participating in the privatization transaction, were acquired by a subsidiary of Trimac's principal shareholder, Trimac Holdings Ltd.
As part of the transaction, the acquisition subsidiary, Trimac and Trimac's wholly-owned subsidiary, Trimac Transportation Services Inc, were amalgamated under the name Trimac Transportation Services Inc.
Financing for the transaction was provided by Alberta Treasury Branches along with a syndicate of lenders under a syndicated credit facility.
Trimac provides bulk trucking services with operations from coast to coast in Canada. In addition, through National Tank Services, Trimac provides maintenance and tank-trailer cleaning services for both the Trimac fleet and for third party commercial customers. Trimac also provides third party transportation logistics services through its wholly owned subsidiary Bulk Plus Logistics.