Boyle Transportation to be acquired by Andlauer Healthcare for $80M

At an $80 million deal valuation, Andlauer Healthcare (AHG), a specialist of the health care supply chain, is acquiring T.F Boyle Transportation, a specialized transportation logistics provider.

T.F Boyle rakes in 75% of its business from being a Billerica, Mass-based carrier with a specialization in transport for the life sciences sector. The remaining 25% of its business is derived from freight from the government/defense sector.

Canada-based AHG offers specialized health care sector transportation and customizable third-party logistics. The price of the sale includes $20 million in stock and $60 million in cash.

Co-Presidents of Boyle Transportations, Marc and Andrew Boyle stated “We’re excited to join the Andlauer team. As part of the highly regarded AHG platform, we will be able to offer a broader suite of services to our valuable clients. We are confident that this strategic move will help Boyle Transportation continue to be the provider of choice to clients and the employer of choice to transportation and logistics professionals in the U.S.”

Regarding the deal, Michael Andlauer, AHG CEO said “Boyle is a leader in the temperature-sensitive life sciences sector and brings complementary security and visibility capabilities to the defense sector.”

An additional 51% stake in Skelton USA Inc. has also been announced by AHG with the price of $50 million, split in half in cash and stock. AHG had acquired 100% of Skelton Canada and 49% of Skelton USA in March. Skelton USA is a 75-truck, 100-trailer company that transports temperature-sensitive vaccines, plasma products, pharmaceuticals, and biologics.

The current leadership as well as the management teams of Boyle and Skelton are expected to stay with AHG, according to a joint statement by them.

Boyle was among the first fleets that transported the COVID-19 vaccine in the December of last year, with its trucks at the Global Supply manufacturing plant of Pfizer by 13th December. This was done under Operation Warp Speed, which is an effort by the government and the private industry for the development and distribution of the COVID-19 vaccine.

The Toronto Stock Exchange must approve both the Boyle and Skelton deals, while the Boyle deal requires additional approval from the U.S. Defense Counterintelligence and Security Agency as well. This is due to the nature of the hauled freight. The deals are expected to close in the fourth quarter of this year.