Tuesday, April 16, 2019
In late 2011 and into early 2012, IEDC provided business planning and consulting support for Broking's Transport, as the Company developed plans to acquire Figgins Transport, its primary competitor in the Grand Rapids area. Through this agreement, Broking's has taken title of the Figgins fleet of 35 trucks, 85 trailers and 15 owner/operators, thereby expanding its capabilities in service to a wider array of customer needs.
Broking's Transport has been in business for over ten years. They bring to the new operation more than 35 existing employees and a transportation fleet consisting of 30 trucks and 45 trailers. With a strong customer base in the beverage and paper/pulp industries, Broking's Transport is a secure business poised for growth.
IEDC was eager to engage in this project, as it presented a unique opportunity to provide an exit strategy for one set of company owners, while helping another find a path for future expansion. In doing so, the Grand Rapids area maintained its leadership position in regional shipping, with Broking's assuming control of the Figgins site in La Prairie and with most of the Figgins employees remaining a part of the team. By providing a successful exit strategy for ownership to transfer to another local company, IEDC was pleased to see these jobs and related investment activities remain in the area.
Going forward in 2012, IEDC will focus its efforts on working with Broking's Transport, the City of La Prairie, and our partners at Iron Range Resources and Rehabilitation Board to secure funding and connect the property to City utilities, in support of further growth and expansion.
Please join us in congratulating Broking's Transport on this successful milestone!