TFI International Inc. announced the acquisition of Fleetway Transport Inc. (“Fleetway”), at the start of February 2021, after acquiring UPS Freight. Founded in 1983 and based out of Brantford, Ontario, Fleetway is a full-service provider of truckload and heavy-haul transportation solutions and logistics services, with flatbeds, roll-tites, step decks, and other transportation modes among its offerings. Fleetway provides both warehousing and transportation for refrigeration equipment.
Serving all of North America from its three facilities in Brantford that include its headquarters/terminal, a warehouse and a storage yard, Fleetway’s workforce of more than 100 professionals operates over 80 tractors and more than 250 vans, flatbeds, drop decks and floats. Fleetway’s revenue mix is derived from the transportation of forestry equipment, refrigeration equipment and consumer packaged goods for various industries. Fleetway, which generates approximately CAD*25m in annualized revenue, will operate as a standalone business unit within TFI International’s Specialized Truckload segment and continue to be led by its President, David Rees, and VP of Finance, Scott Walker.
“Fleetway operates a unique and profitable heavy-haul and specialized van business that’s highly synergistic with our existing network”, stated Alain Bédard, Chairman, President and Chief Executive Officer of TFI International. “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.”
Source: TFI International
*CAD=$0.75/€0.68
