Winnipeg Free Press - PRINT EDITION

Gardewine trucking owner sells operation

  • Print

WINNIPEG trucking magnate Paul Albrechtsen has sold the Gardewine Group, his second major asset sale in the last couple of years.TriWest Capital Partners, a Calgary private- equity firm, announced the deal earlier this month. In 2007, TriWest also bought Westcan Bulk, an Alberta-based division of Albrechtsen's Paul's Hauling group of companies.

The operations of both companies have not been affected by the sale. Gardewine does a substantial amount of its business in Manitoba, but also covers areas of British Columbia, Alberta, Saskatchewan, Ontario and Quebec.

Gardewine general manager Dave Tuckwell said in a company newsletter: "The fact that we will have a new banker will not, I believe, affect any of our employees."

Albrechtsen's assistant, Judy Hill, said, "Paul is trying to reduce his workload... his involvement in the companies. It is as simple as that. There have been approaches over the years (from other potential buyers), but when he finally made the decision to sell a few off, he felt TriWest was a good company to sell to."

Hill said all operations remain status-quo. No financial details of the sale were disclosed.

Gardewine's senior management team has retained a significant ownership stake in the Gardewine Group, which includes Gardewine North operating more than 300 highway trucks and 900 trailers. Gardewine is the fourth investment for the TriWest Capital Partners III fund.

Before the sale of Gardewine and Westcan Bulk in 2007, Paul's Hauling was one of the 10 largest transportation firms in the country, with more than 2,600 employees, 875 tractors, 2,500 trailers and 38 terminals in Canada and the United States.

Albrechtsen, in his late 70s, started in the trucking business in Manitoba more than 50 years ago, buying his first truck to service the tiny Manitoba oilpatch in Virden, where he first worked after emigrating to Canada from Denmark.

While many other trucking companies started plying north-south routes when the industry was deregulated in the late 1980s, Albrechtsen's companies have maintained a regional focus and much of their approximately $250 million in annual sales (five years ago) is derived from its Canadian business.

martin.cash@freepress.mb.ca

Republished from the Winnipeg Free Press print edition November 28, 2008 B4

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Shots ring out as police say armed threat "resolved"

View more like this

Photo Store Gallery

  • A Great Horned Owl that was caught up in some soccer nets in Shamrock Park in Southdale on November 16th was rehabilitated and returned to the the city park behind Shamrock School and released this afternoon. Sequence of the release. December 4, 2012  BORIS MINKEVICH / WINNIPEG FREE PRESS
  • Geese take cover in long grass in the Tuxedo Business Park near Route 90 Wednesday- Day 28– June 27, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Should confessions extracted through Mr. Big police stings be admissible in court?

View Results

View Related Story

Ads by Google