Expands North American Footprint T.TTNM - Acquisition of Crane Transport expands Titanium’s North American footprint through the addition of approximately 200 U.S.-based trucks, two strategically located terminals in Georgia and Alabama, and approximately US$60 million in top line annual revenue.
- Strategic Acquisition will provide Titanium with a critical mass of assets in the U.S., enabling customers to access a comprehensive freight management offering driving growth in Titanium’s US-based logistics business.
BOLTON, Ontario, July 31, 2023 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. ("Titanium" or the "Company") (TSX:TTNM, OTCQX:TTNMF), today announced it acquired the assets and equipment of Crane Transport (“Crane”) of Oakwood, GA, for a total consideration of US$53 million comprising cash, a vendor takeback loan and assumption of net debt, subject to closing adjustments (the “Acquisition”). Titanium also purchased all real estate related to Crane’s operations, including the head office terminal in Georgia, and its satellite terminal in Alabama, for an additional consideration of US$6 million. Titanium has the funds to close the transaction and does not require additional financing.
Titanium Transportation Group Expands North American (globenewswire.com)