C.A.T. acquires Penner International in big boost for fleet and Canadian network

C.A.T.  acquired Penner International on Monday in a bold acquisition that expands the cross-border carrier’s footprint in western Canada and increases its fleet by about 50%. 

C.A.T. aims to ramp up its east-west moves in Canada with the addition of the Manitoba-based truckload carrier. The acquisition also will improve C.A.T’s cross-border network with Penner’s business in the Western United States.

Purchasing Penner represents a major expansion of C.A.T.’s fleet, adding more than 300 tractors to the existing 600.

“We’re very excited about this,” C.A.T. Vice President Marc Blanchette told FreightWaves. 

C.A.T. found a natural fit in Penner, with a diverse truckload business that includes original equipment manufacturers, commodities and other freight.

It also builds on C.A.T. ‘s existing presence in western Canada from its 2017 purchase of Ontario-based SLH, also its last acquisition.

“This will help us leverage our network for east-west moves,”  Blanchette said.

Family-owned Penner will operate as a division within C.A.T. with the existing management in place.