Transforce to acquire Dynamex

Dynamex has terminated the merger agreement previously entered into with affiliates of Greenbriar Equity Group and has entered into a new merger agreement with TransForce.

Pursuant to the new agreement, TransForce will acquire Dynamex for $25 per share in cash, which represents a 63.29% premium to the company’s unaffected closing share price on October 1st and a 4.17% premium over the consideration provided by the Greenbriar merger agreement.

The transaction is valued at approximately $248 million.

Dynamex’s board of directors has unanimously approved the merger agreement with TransForce and has resolved to recommend that the Company’s stockholders adopt the merger agreement.

Dynamex provides same-day delivery and logistics services in the US and Canada.

According to Dynamex CEO James Welch, Transforce’s growth strategy is to acquire well managed companies that are leaders in their market and effectively oversee their performance. The merger will enable greater stability, focus and flexibility for Dynamex to achieve its strategic goals and growth.

Dynamex will benefit from TransForce’s experience, support and synergies by interacting with other companies within the group, increasing its geographic reach, and by enabling it to provide complementary services and improve its market penetration.