Trimble Completes TMW Acquisition

Trimble Navigation Ltd. said it has completed its $335 million acquisition of transportation software provider TMW Systems.

Trimble, which first announced it would by buy TMW in late August, made the announcement in a Securities and Exchange Commission filing on Tuesday.

The deal brings TMW — the largest transportation software provider — under the same ownership as PeopleNet Communications Corp., which Trimble acquired a year ago.

Company executives told Transport Topics when the deal was first announced that TMW and onboard communications firm PeopleNet will operate as independent businesses and continue to work with other industry partners.

The purchase of TMW by Trimble, a provider of Global Positioning System and other technology, further expands Trimble’s presence into the transportation and logistics field.

Ron Konezny, who founded PeopleNet in 1994, was appointed to his current post as general manager of Trimble’s transportation and logistics division in December. He was previously PeopleNet’s CEO.

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FedEx Completes Brazilian Logistics Acquisition

FedEx Corp. said it completed its acquisition of Brazilian logistics firm Rapidão Cometa Logística e Transportes S.A.

Terms were not released about the deal, first announced by FedEx in May. Rapidão Cometa generates about $500 million per year in revenue. 

FedEx said the acquisition will extend its reach in Latin America and gives its FedEx Express unit access to a ground network of 45 branches, 770 vehicles and trailers.

FedEx earlier this year bought package delivery companies in France in Poland.

FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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Caterpillar Completes $750 Million Sale of Logistics Unit

Caterpillar Inc. said Wednesday it has completed the $750 million sale of the majority stake in its third-party logistics business to Platinum Equity.

Under the deal, which was first announced in May, Caterpillar sold a 65% stake in Caterpillar Logistics Services to Platinum Equity, a private equity firm. Caterpillar retains a 35% stake.

Platinum will establish the business as a standalone company under a new brand that will be announced at a later date, Caterpillar said in a statement.

The sale does not impact Caterpillar’s manufacturing logistics and transportation operations and Cat brand parts distribution, which will continue as core businesses within Cat Logistics.

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COMPETITION WATCH: Trimac completes acquisition of Liquid Cargo Lines

CALGARY, Alta. -- Trimac Transportation has completed its acquisition of all of the issued and outstanding shares in the capital of Liquid Cargo Lines Limited (LCL).  Trimac acquired the shares of LCL from McCaig Real Estate, an affiliate of Trimac, for a purchase price of $1,986,000.

LCL, based out of Mississauga, Ont. since 1953, provides specialized bulk transportation deliveries throughout Ontario, Quebec and the US with a focus in chemicals and asphalt. The assets of LCL include 42 trailers, 22 company-owned power units, in addition to eight owner/operator units, and a lease of a 13-acre property in Mississauga.

According to company officials, immediately prior to the closing of the acquisition, through a series of transactions, McCaig Real Estate acquired the shares of LCL from an arm's length third party and purchased from, and leased back to, LCL the 13-acre property where LCL's branch is located and where National Tank Services currently operates a tank wash facility. McCaig Real Estate is controlled by Jeffrey J. McCaig, the chairman and CEO of Trimac. The transaction was reviewed and unanimously approved by the independent directors of Trimac and supported by independent appraisals of both the rolling stock and the real property.

"Trimac is extremely pleased to have completed the acquisition of LCL and welcomes its employees to the Trimac team,” said Ed Malysa, president and COO of Trimac. “The 13-acre Mississauga property includes mechanical shop facilities, commercial tank washing (currently leased and operated by NTS), administrative offices and parking. The property is strategically located and will facilitate Trimac's future growth requirements in this key geographic market.  By leasing the LCL facility, rather than purchasing it, Trimac can employ a higher amount of its available capital to earn more attractive financial returns in its trucking and non-trucking operations."

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