Daily update: Schilli Corp., Missouri-American Water, Lion’s Choice in the news, and more

Trucking company Schilli Corp. acquired by Canadian giant

St. Louis-based Schilli Corp., has been acquired by a subsidiary of TFI International Inc. of Montreal, Canada.

Terms of the deal weren’t disclosed.

TFI International (TSX: TFII, OTCQX: TFIFF) is a North American transportation and logistics company.

Schilli was founded in the early 1960s by Bob Schilli Sr. and specializes in the transportation of dry and liquid bulk products. It offers dedicated fleet solutions and other value-add services throughout the Midwest, Southeast and Gulf Coast regions.

Schilli has more than 400 employees, operates 22 facilities and has a fleet of over 340 tractors, including independent contractors, and more than 500 trailers.

The acquisition expands TFI International’s specialized truckload business into the U.S. Schilli will operate as a standalone unit within TFI’s specialized truckload group, with Bob Schilli Jr. and John Koons continuing in their roles. Schilli Jr. has served as executive vice president. Koons is vice president and chief financial officer.

Alain Bédard, chairman, president and CEO of TFI International, said, “Schilli is a superb strategic fit for us with its sophisticated service offerings, and will help boost our tank presence across the eastern U.S. which is a targeted growth region for us.”

TFI, which has about 17,000 employees, reported 2017 revenue of 4.47 billion Canadian dollars, or about $3.59 billion U.S.


Missouri-American Water seeks rate increase in St. Louis County

Missouri-American Water Co. wants to double the infrastructure fee charge for St. Louis County customers.

The company has filed an application with the Missouri Public Service Commission seeking to increase the infrastructure system replacement surcharge from 2 cents per 100 gallons of water used to 4 cents per 100 gallons.

Missouri-American Water first started the infrastructure charge in 2003. The company wants to increase the charge to reflect infrastructure replacement investments made by the water company since October 2018.

The company told the Public Service Commission it wants to have the proposed change take effect no later than June 20.

Applications to intervene and participate in this case must be filed no later than March 22, with the Secretary of the Missouri Public Service Commission.


Lion’s Choice expanding in KC, Illinois

Roast beef restaurant chain Lion’s Choice said it plans to add “multiple” new Kansas City locations this year, as well as one in Edwardsville, Illinois.

Lion’s Choice has about 30 locations and re-entered the Kansas City market last fall with the opening of a restaurant in Independence last fall. It opened a location in Olathe, Kansas, in early February.

The company opened five locations last year and will remodel eight this year. Lion’s Choice officials did not provide figures for what the remodels and new store openings will cost.


Tidbits

Shriners Hospital is partnering with Newton Medical Center on a new telehealth location in Kansas.

St. Louis banks lag other metros, especially in loan growth

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