TransForce Income Fund Acquires Byers Transportation System Inc.
MONTREAL, July 24, 2006 – TransForce Income Fund (TSX: TIF.UN), the leader in the Canadian
transportation and logistics industry, today announced it has signed a share purchase agreement to
acquire Byers Transportation System Inc. and its subsidiaries, headquartered in Edmonton, Alberta,
from Landtran Systems Inc.
Byers Transportation has operated as a less-than-truckload carrier in western Canada for more than
60 years and generates annual revenues of approximately $70 million. With 35 branches, including
five hub terminals, Byers provides service to more than 1,500 communities in Alberta, British
Columbia, Northwest Territories and the Yukon, with partner connections to the United States.
“The acquisition of Byers Transportation strengthens the TransForce presence in western Canada
and provides unique access to the Yukon and Northwest Territories” said Alain Bédard, Chairman,
President and Chief Executive Officer of TransForce Income Fund. “Byers will complement our
less-than-truckload business by increasing route density in existing service areas and by extending
our geographic coverage into previously unserviced locations.”
Paul Flanagan, who has been with Byers Transportation for 18 years, will be promoted to President,
and will lead the company’s management team after the acquisition. Consistent with TransForce’s
strategy of acquiring successful and well-managed companies, the Byers Transportation
management team will continue to execute their proven business strategy and manage their
customer relationships as a wholly owned independent subsidiary of TransForce Income Fund.
The acquisition is subject to customary conditions and approvals, and is expected to close by early