TFI International is acquiring Fleetway Transport Inc.
Founded in 1983, Brantford, Ontario-based Fleetway is a full-service provider of truckload and heavy-haul transportation and logistics services.
Fleetway provides both warehousing and transportation for refrigeration equipment. It operates three facilities in Brantford that include its headquarters and terminal, a warehouse and a storage yard.
It employs more than 100 professionals operates over 80 tractors and more than 250 vans, flatbeds, drop decks and floats.
Its that versatility that excites TFI International.
"Fleetway operates a unique and profitable heavy-haul and specialized van business that’s highly synergistic with our existing network" said TFI International President and CEO Alain Bédard.
"Expansion of Fleetway’s strong customer relationships built over the years is one of multiple growth opportunities we see, which include expanding Fleetway’s business into regions such as Mexico leveraging our affiliates, and utilizing our brokerage capabilities to drive business their way. Consistent with our longstanding approach to the business, we also see potential opportunities to improve asset utilization. We welcome David, Scott and their entire team, and look forward to supporting the expansion of Fleetway’s business as an exciting new member of the TFI family of companies."
Fleetway generates approximately C$25 million in annualized revenue.
TFI International operates across the United States, Canada and Mexico through its subsidiaries.
Shares of TFI International are 4.92 per cent on the day, trading at C$89.12 at 1:17 p.m. EST.