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CCAA Court Approves Sale of Pride Group Logistics

MISSISSAUGA, ON – September 26, 2024 – Pride Group Logistics Ltd. (“Pride Group Logistics”) today provided an update on its proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”). Pride Group Logistics is pleased to announce that the Ontario Superior Court of Justice (Commercial List) (“CCAA Court”) has approved a transaction pursuant to which 1000927605 Ontario Inc. (the “Purchaser”), a special purpose entity supported by the founders of Pride Group Logistics, will acquire substantially all of the assets of Pride Group Logistics necessary to continue operating the business as a going concern (the “Transaction”) to continue to serve Pride Group Logistics customers and maintain the jobs of its over 500 employees and contractors.
On May 15, 2024, the CCAA Court granted an order (the “SISP Order”) authorizing Pride Group Logistics to conduct, under the oversight of Ernst & Young Inc., in its capacity as court-appointed monitor (the “Monitor”), a sale and investment solicitation process (the “SISP”) for Pride Group Logistics business and asset. Pursuant to the SISP, the Purchaser’s proposal was identified as the Successful Bid (as defined in the SISP).
The Transaction will be completed pursuant to a purchase agreement (the “Purchase Agreement”) dated September 22, 20242024, among the Purchaser, Pride Group Logistics and certain of its affiliates as vendors. Pursuant to the Purchase Agreement, the Purchaser will:
  • acquire substantially all of the assets of Pride Group Logistics’ business , including but not limited to, the fleet of Pride Group Logistics vehicles, related equipment and inventory, all intangible assets, accounts receivable, cash, cash equivalents and prepaid expenses;
  • assume Pride Group Logistics licenses and operating permits, subject to regulatory approval; acquire all intellectual property and goodwill of Pride Group Logistics, including ownership of all related names and trademarks;
  • assume contracts of Pride Group Logistics and its affiliates critical to the business;
  • acquire ownership of Pride Global Insurance Company Ltd.; and
  • retain an option to acquire certain leasehold real property ancillary to the business or leases in respect thereof, subject to certain conditions.
The CCAA Court has approved the Successful Bid and granted authority to the Monitor to consummate the Transaction contemplated therein pursuant to the terms of an approval and vesting order (“AVO”) to be issued by the CCAA Court in respect of the Transaction. Amongst other things, the Transaction will enable a continuity of operations of Pride Group Logistics, a critically important fulfilment business in Canada, for the benefit of its customers, suppliers, service providers, stakeholders and, most critically, its over 500 employees and contractors whose jobs will be preserved.
The closing of the Transaction is subject to issuance of the AVO and, if needed, an order assigning the critical required contracts to the Purchaser, as well as customary closing conditions and an order of the US Bankruptcy Court recognizing the approval of the Transaction. The Transaction is expected to close on or about Oct 16, 2024.

COMMUNICATION to SUPPLIERS, SERVICE PROVIDERS and BUSINESS PARTNERS

August 14, 2024

Dear Valued Partner,
As you know, on March 27, 2024, Pride Group Holdings Inc. and related companies (collectively, the “Pride Group”) sought and obtained creditor protection under the Companies’ Creditors Arrangement Act (the “CCAA”) pursuant to an order of the Ontario Superior Court of Justice (Commercial List), as subsequently recognized and enforced in the U.S. Ernst & Young Inc. was appointed as the Court-appointed Monitor of the Pride Group (in such capacity, the “Monitor”).
At this time, the Pride Group has sufficient liquidity to continue to operate and it is business as usual. There have been important recent developments in the CCAA proceedings, some which have not been accurately reported on by the media. We wanted to provide you with important context and background in respect of these developments.
As it concerns Pride Group Logistics (“PGL”) and its business, the Court has not made any determination at this time. The Pride Group continues to seek a going-concern sale of the PGL business, which is in the best interest of PGL’s employees, contractors and business partners. The Monitor’s Reports to the Court, all of which are publicly available online, 1 report in detail on the ongoing Court-supervised PGL sale process, including the bid submitted by a proposed purchaser that is controlled by members of the Johal family. For clarity, as at the date of this letter, PGL is not being wound down. As it stands currently, the Monitor is recommending the continuing pursuit of a going-concern sale transaction supported by the Johal family. That sale, if approved by the Court, would allow PGL to continue as a going-concern for the benefit of its customers, employees and the communities that it serves. Further, Randall Benson, Chief Restructuring Officer (the “CRO”) of the Pride Group is recommending the Johal family bid as the preferred option.
The Court will hear and make a decision at a future date with respect to any proposed sale of PGL’s business. In the meantime, until the Court makes its decision, it is business as usual for PGL’s employees, contractors and business partners.
As it concerns the Pride Group’s and Tpine’s leasing business lines, it is business as usual for Tpine’s employees, contractors, lessees and business partners – lease amounts are being collected and are expected to be paid in accordance with the Court Orders granted in these proceedings.
As it concerns Tpine Financial’s factoring business, the Court recently approved the sale of a substantially all of Tpine’s factoring business as a going concern sale. More information will be forthcoming on the mechanics of the purchase and transfer of the factoring business, however customers of the factoring business are expected to continue to be customers of the business after it is sold.
Finally, as it concerns truck inventory and sales, the Pride Group has determined that a going concern transaction is no longer feasible due to the overall state of the trucking and logistics market. The Pride Group (excluding, Pride Group Logistics) is considering its options, including an orderly disposition of its trucks and trailer assets and, where appropriate , turning-over assets to financiers on agreed upon terms, and winding down business lines in an orderly fashion which minimizes impact on affected stakeholders. Should a restructuring option develop involving a standalone truck dealership business, it will presented to the creditors and the Court for consideration. More information on these decisions will be forthcoming.
The Pride Group’s interim financing (the “DIP Facility”) matured on July 31, 2024. On Friday, the Court approved the Pride Group’s ability to fund its ongoing operations with its available liquidity, which will fund the next steps in these overall proceedings until further Court Order. The Pride Group is pursuing funding options to ensure it continues to have sufficient liquidity to pursue an orderly disposition of assets and has identified a prospective lender that is prepared to provide such interim financing, which will be subject to Court approval.
The CRO of the Pride Group confirms that the number one priority of the Pride Group is to pursue an orderly outcome that provides the best possible recovery and minimizes the impact of the Pride Group’s restructuring on affected stakeholders.
If you have any questions, please do not hesitate to contact the Court-appointed Monitor at:
Ernst & Young Inc.
The Court appointed Monitor of
Pride Group Holdings Inc. et al.
Hotline: 416-943-2202 / 1-800-207-9506
Email: pridegroup.monitor@ca.ey.com
Yours very truly
RC BENSON CONSULTING INC
RC BENSON SIGN

Top 20 Trucking Company in Canada

May 12, 2023

Bibi Croce

May 12, 2023

We are delighted to announce that PGL has been ranked among the top 20 trucking companies in Canada as part of Today's Trucking's/ Truck News' Top 100. We are proud of our upward trajectory on this prestigious list, which is a testament to our commitment to growth and excellence. Our success is a reflection of the hard work and dedication of the entire PGL team, and we extend a huge congratulations to everyone for their valuable contributions. We eagerly anticipate our continued progress and look forward to seeing where we place next year.

March 07, 2023

Bibi Croce
Left to right Pride Group Logistics' Nathan Smith, Director of Operations; Harvinder Mann, Dispatch Coordinator of GTA & SWO Operations; HarPreet Singh, Sr. Planner & Coordinator of Local GTA & SWO Operations; Teri Proude, Director of Client Relations; John H. Smith, COO; Hugh Tharby, Pepsico’s Ontario Transportation Manager and Adam Fehler,  of PepsiCo; Pride's Amardeep Saini, Sr. Planner & Coordinator of Local GTA & SWO Operations and Kartikye Chauhan, Sr. Planner & Coordinator of Local GTA & SWO Operations.

March 07, 2023

Pride Group Logistics is thrilled to announce that we have received the Canadian Carrier of the year award in the Beverages Category from PepsiCo.We are honoured to continue working with PepsiCo and to continue representing “The PepsiCo Way” which aligns with Pride's internal company values as well:
  • - Act as an owner
  • - Be consumer-centric
  • - Act with integrity
  • - Celebrate success
  • - Focus & Get things done fast
  • - Voice your opinion Fearlessly
  • -Raise the bar on talent & diversity
We are proud to work with a company that exhibits all of these wonderful traits and more.
Thank you again, PepsiCo for this honour. We cannot wait to accomplish more great things together in the years ahead.

Electronic logging devices, better known as ELDs

January 10, 2023

Bibi Croce

January 10, 2023

“Electronic logging devices, better known as ELDs, are equipment that automatically record driving time in commercial trucks. This helps make sure that drivers are compliant with hours-of-service regulations resulting in reduced fatigue for drivers, improved administrative efficiency and safer roads in Canada and the USA. They offer invaluable traceability, honesty, and improved performance as a company overall.
Each of our power units are equipped with state-of-the-art technology, including Omnitracs E-Logs, Critical Event Recording cameras, and Speed gauge. Pride began to adopt ELDs in 2019 and has had each and every truck outfitted since 2020.Our early investment has helped us to be safer and more efficient on the road. This technology aids our Safety and Compliance Team in quickly and easily identifying both safety and performance concerns of our driver group.
This technology is also utilized for identifying Company drivers and owner-operators alike that may need remedial training, progressive disciplinary action, or worst-case scenario, even termination of employment with Pride Group Logistics based on both safety and performance results.”

Safety roles among the most diverse in trucking

September 06, 2022

Bibi Croce

September 06, 2022

Bibi Croce had no experience in trucking when she started her career nine years ago, but she worked her way through the ranks. Jobs in customer service led to operations and customs — and for the last three years the role of safety, compliance, and recruiting (SCR) at Pride Group Logistics’ Fort Erie Niagara Terminal.
Croce says she never has a dull moment at work. The adrenaline rush from multitasking keeps her going. “I absolutely love a challenge. I hate being bored.”
While women are still underrepresented among drivers, a Women in Trucking Association (WIT) study on gender diversity shows they represent 40% of safety professionals in Canada and the U.S. After HR and dispatching jobs, safety is the third most attractive role for women in trucking – outpacing the percentage of those working as executives, directors, and drivers. They represent just 3.7% of technicians.
So why do women choose safety over other roles in trucking?
“Well, they are just better at it, and it comes naturally,” says WIT president and CEO Ellen Voie, citing an association study for a recruiting guide that revealed women tend to prioritize safety, while men mostly care about the pay. The study also revealed that women are reportedly better at completing paperwork and connecting with customers, and more eager to learn.
And working in safety, in a nutshell, is all about keeping accurate records, tracking data, and interacting with drivers.
Voie also says women transitioning from driving to safety is not a rarity.
Written by Truck News

Canada’s biggest truck fleets in 2022: The Top 100 (1-25)

September 06, 2022

trucking companies in brampton

September 06, 2022

Pride Group Logistics is proud to announce that we have acquired Oakville, ON-based truckload Carrier, LoadEX Inc., in an effort to continue expanding our reach and assets to best serve our existing and new clientele. LoadEX is a cross-border carrier to the mid-west and eastern parts of the US as well as Mexico and Canada specializing in Reefers and dry vans. LoadEX’s existing management will stay on board and continue in the same capacity. This acquisition will include an additional 105 truck and trailer assets. This is a welcome expansion in terms of PGL’s capacity, particularly during the current asset supply crunch.
“In 2014, Loadex was just a dream between friends with years of trucking experience. With one truck, and lots of determination we turned this dream into a strong fleet; a company that currently is one hundred people strong. One hundred people who have safety, commitment, and customer satisfaction as their main objectives. The acquisition of our company by Pride Group will significantly enhance our opportunities to serve our customers, it will further allow Loadex to grow and expand our business for the better of our drivers, customers, staff, and our acquirer. We are happy to be joining one of the leaders of the trucking industry and are excited for the times ahead.” -Daniel, LoadEX
Within the first quarter of 2022, PGL completed two sizeable acquisitions and grew our fleet and business by nearly 60%. Our transportation divisions now equate to a combined total of over 1000 Trucks & 3500 Reefers/ trailers in our logistics division. We are recently recognized as #24 on Truck News Canada’s biggest truck fleets: The Top 100 List See here for further details https://lnkd.in/dftyM4cj). Now with these two new acquisitions, we are well-positioned within the top 10 major Canadian carriers.
We have gained a huge capacity in this crucial supply-chain challenge, allowing us to continue providing the high quality of service that Pride is well known for. If you are looking for assets-based freight carrier services with capacity please call us today.
As we move forward into the following quarters this year we plan to continue expanding into Irving, TX; Los Angeles, CA; Jacksonville, FL; Fort Lauderdale, FL; Cincinnati, OH; and many more. and growing our existing offices in Chicago, Nashville, Atlanta, Montréal, Brantford, Mississauga, and Fort Erie ON.
Written by Truck News

Pride Group Logistics Expands U.S. Presence With the Acquisition of Arnold Transportation Services, Inc.

February 1, 2022

Arnold Transportation

February 1, 2022

Dallas, TX and Mississauga, ON - Pride Group Logistics ("PGL"), known as one of North America's most sustainably minded, reliable, and fastest-growing truckload carriers, is pleased to announce the acquisition of Arnold Transportation Services. Based in Grand Prairie, Texas, Arnold Transportation operates a fleet of 414 tractors and 1,400 dry vans within the U.S.
"The acquisition of Arnold Transportation Services will allow us to expand our U.S. domestic transportation offering to new and existing customers. We look forward to providing Arnold with many additional resources that will help grow the fleet and continue to provide safe and high-quality transportation services to customers. I am also happy to announce that Michael J DelBovo will remain President of Arnold Transportation Services," said Aman Johal, Vice President of Pride Group.
"Arnold Transportation Service is 'the Original Regional Carrier.' We are a full-service asset-based truckload carrier headquartered in Grand Prairie, Texas. Arnold's heritage dates back to the 1930s, at which time we established a strong foundation in Safety and Regional Service. Today, we provide Truckload Services Dedicated Solutions and Logistics Support. Our operations are strategically concentrated in the South Central and Midwest states. A family-owned and operated venture, Arnold operates in regional markets for customers who require a flexible, performance-driven carrier." - Michael J DelBovo, Arnold Transportation Services President.
PGL is committed to growing the service offering of Arnold by adding new equipment into the fleet as well as plans to add a refrigerated division to the company in 2022. The acquisition will bring up PGL's total fleet of transportation assets to 805 trucks and 2,600 trailers.
"We understand the growing needs of the industry and the need to continue to grow and scale up our business to do our part to keep the supply chain moving for our customers. This acquisition is an exciting step in our company history, however, it is just one of the many steps that we will be taking to ensure the longevity and ongoing high-quality service our clients have come to expect. As a client-focused company, we will work to continue to grow to meet the needs of our current and future clients amid disturbances due to lack of equipment and personnel by investing in our biggest asset — our team. In this way, we can continue to grow the Pride Group Logistics family strategically," said Johal.
About Pride Group Logistics: Pride Group Logistics is a North American truckload carrier operating a fleet of 391 tractors and 1,200 trailers with terminals in Ontario, Quebec, Alberta, and Illinois. PGL invests heavily in the use of technology within its operations to achieve industry-leading safety performance, customer satisfaction and driver retention. Pride is a leader in sustainable transportation with heavy investments in electric vehicles and infrastructure.
Please direct any inquiries to:
Bianca Ricci
Bricci@pridegroupenterprises.com

Pride Group Enterprises Announces Reservations Placed for 150 Tesla Electric Semi Tractors

November 9th, 2020

November 9th, 2020

Dallas, Texas: Today, Pride Group Enterprises (PGE) is announcing that it has reserved 150 Tesla Electric Semis with the option to increase to 500 trucks. Sam Johal, Pride Group Enterprises CEO announced that they have placed a deposit to secure the initial units and build slots. “With support from one of our long-term financial partners, Hitachi Capital, we are very excited to bring this innovative product to our strong customer base helping forge a new path in clean transportation. We believe that electrification is the way of the future as we work together across multiple industries to reduce our carbon footprint,” said Sam Johal. “As well, we have the option to increase our order as we gauge customer acceptance of this new technology.” The allocation of units will be determined by Pride with special consideration in states and provinces with the most welcoming electric commercial vehicle environment, such as California.
“Pride Group Enterprises’ vision is to invest in facilities that will support charging, full-service maintenance, and a consistent supply of electric trucks on North American highways,” states Mr. Johal. “We have first-hand knowledge of the Transportation Industry across multiple verticals and we (PGE) strongly believe that electric truck technology will overcome many challenges facing traditional diesel technology such as the related maintenance and associated down-time.” To support the arrival of these units and all-electric Class 8 trucks, Pride Group Enterprises is already busy investing in the necessary infrastructure for parking, charging and full maintenance at all of its locations.
The company has dedicated significant resources over the past number of years to completely understand the technology, infrastructure, and capital requirements to make electric trucks a success within its existing network. Pride Group Enterprises operates businesses in equipment rental, leasing, logistics and sales – the company has plans to deploy these assets across all business divisions.
“With the addition of electric trucks to our portfolio of products, our service offering to our customers continues to evolve. Our reservation with Tesla is the first of many and we continue to work with all OEM partners and have more exciting projects in the works! We have put a lot of focus on growing from an equipment supplier to a complete one-stop-shop for the transportation industry. Some of the other offerings we’ve added include short-term rentals, full-service maintenance, in-house OEM warranty work and 3PL solution to name a few,” says Aman Johal, Vice President of Operations.
Pride Group Enterprises is a privately held, diversified company with 12 locations in the US and Canada with many more under development. The company and its affiliates are proud members of NationaLease, one of the largest full-service truck leasing organizations in North America.

Pride Group Ranks No. 28 on the 2019 Growth 500

September 13, 2019

freight forwarding business

September 13, 2019

Canadian Business and Maclean’s today ranked Pride Group No. 28 on the annual Growth 500, the definitive ranking of Canada’s Fastest-Growing Companies.
The Growth 500 ranks Canadian businesses on five-year revenue growth. Pride Group made it to the list with revenue growth of 2365% since 2013.
"It is an honor to be on this prestigious list. With an aim to be a one-stop destination for truckers - be it truck sales, leasing, maintenance or logistics services, we have consistently worked towards providing the best service at the best rates. This core principle has helped us swiftly scale our operations throughout the region. Our ranking on the Growth 500 motivates us to stay focused and continue our growth plans", said Sam Johal, CEO & President, Pride Group.
"We are thrilled to be a part of the Growth 500. This achievement motivates us to continue our aggressive growth strategy in North America", added Vik Gupta, Senior Vice President, Pride Group.
"The companies on the 2019 Growth 500 are truly remarkable. Demonstrating foresight, innovation and smart management, their stories serve as a primer for how to build a successful entrepreneurial business today,” says Beth Fraser, Growth 500 program manager. “As we celebrate over 30 years of the Canada’s Fastest-Growing Companies program, it’s encouraging to see that entrepreneurship is healthier than ever in this country."
Pride Group is a privately held, diversified establishment and is the parent company for Pride Truck Sales Ltd, TPine Leasing Capital Corp., TPine Truck Rental, Pride Diesel, Pride Group Logistics and Sweet Home Hospitality. Headquartered in Mississauga, the company has its presence in 8 other locations across North America.

Official Awareness Partner Of Kids Help Phone

July 29, 2019

Team enjoying Official Awareness

July 29, 2019

Pride Group Logistics (PGL) recently held an event at their head office in Mississauga, Ontario to officially announce their partnership with Kids Help Phone (KHP). Staff and family from both organizations were in attendance, wearing dual-branded t-shirts, conversing and posing for pictures in front of Pride’s brand new trailer wrap design which strongly features this partnership.
PGL will be the Official Awareness Partner of Kids Help Phone for the next five years. In addition to providing financial support, they have committed to wrapping 30 of their new trailers and are adding a highly reflective decal which showcases the Kids Help Phone logo and contact information to each one of their nearly 800 trailers.
Aman Johal, Vice President of PGL states, “Our partnership with Kids Help Phone will allow children, teenagers and young adults in remote areas to know that there is someone out there who will listen to them. We have placed reflective decals on our trailers so that even at night, a child will be able to see it as our equipment travels throughout Canada and the United States. We are extremely proud to be an Awareness Partner of Kids Help Phone as we strive to create more awareness and make our world better for the youth of today.”
Over 20 percent of the population is between the ages of 6-26, all of which KHP wants to help. They reached more than 1.6 million children in 2018 and projected more than 3.5 million in 2021. Jenny Yuen, Associate Vice President, Community Engagement & Mobilization for Kids Help Phone explains, “Letting young people across Canada know we are available 24/7 in any moment of crisis or need is critical. Nobody can schedule when they have an issue or something that challenges their mental health. So, young people need to know that our professional counsellors and crisis responders are there whenever they need to reach out.”
“We are so proud to have Pride Group Logistics on board as the first transportation company to join us as an Awareness Partner. With our information on their growing fleet of nearly 800 trailers, we are able to increase awareness to communities across Canada.” Jenny Yuen continues, “They are truly supporting the connection of young people to Kids Help Phone with their generosity.”
Official Awareness

PROUD TO PARTNER WITH KIDS HELP PHONE

January 30, 2019

Our partnership with Kids Help Phone (KHP) will allow children in remote areas to know that there is someone out there who will listen to them. We have placed reflective decals on our trailers so even at night, a child will be able to see it as our equipment travels throughout Canada and the United States. Over 20% of the population is between the ages of 6-26, all of which KHP wants to help. Currently they have reached more than 1.4 million children in 2017 and projected more than 3.5 million in 2021. Pride Group Logistics is proud to be the exclusive transportation partner with Kids Help Phone as we strive to make our world better for the youth of today.

Pride Group Logistics Expands Footprint with New Facility in Fort Erie, Ontario

January 5, 2017

Pride Group Logistics (PGL) is pleased to announce the official opening of their new facility in Fort Erie. Staffed by 35 employees and owner operators, the terminal is key to offering improved service in the Niagara region and supporting both LTL and Truckload growth to and from the U.S Eastern Seaboard.
Fort Erie is PGL’s fourth terminal, adding to the Mississauga, ON, Brantford, ON and Point Claire, QC locations. The terminal boasts a 9 acre secure yard, operations centre, driver facilities, multiple drive through service bays and a truck/trailer wash bay. The facility located at 933 Helena Street in Fort Erie, was purchased mid last year and occupied in November by the Niagara, PGL team. It is strategically located just 1 exit away from the Peace Bridge crossing between Fort Erie, ON and Buffalo, NY.
According to PGL Vice President, Aman Johal, “Being located 5 minutes from the border will dramatically help us increase the efficiency of our U.S. linehaul drivers as well as improve our service to local customers on both the Ontario and New York sides. We are also working on plans to construct a cross dock and freight consolidation/deconsolidation facility on the property. The Fort Erie terminal is a strategic component of our long-term vision for the company.”

New Brand and Website Launched with Pride!

November 27, 2015

December 2015 marks the launch of our new website and branding for Pride Group Logistics. We are excited to start 2016 with our online marketing presence solidified and our new logo and domain ShipWithPride.com branded on our current model year fleet.
The lion head represented in our new logo, signifies the pride we take in serving our customers’ truckload requirements throughout North America. We believe the services and philosophy of our company are well represented in our new website and we encourage you to offer your comments and suggestions as you view it for the first time.
We have a young team with generations of history in transportation. We are well equipped to serve your requirements and with our services, resources and marketing in place, look forward to serving you like only Pride Group Logistics can!