TFI International Signs Agreement to Acquire APPS Transport Group
29 8월 2020 - 2:15AM
TFI International Inc. (NYSE and TSX: TFII), a North American
leader in the transportation and logistics industry, today
announced that it has signed a definitive agreement to acquire APPS
Transport Group (“APPS”). Established in 1985 and
headquartered in Mississauga, Ontario, APPS primarily provides
Less-Than-Truckload service, as well as Truckload, Warehousing,
Distribution, and specialized Logistics solutions within Ontario
and throughout Canada. The company serves the retail,
consumer goods, automotive supply, food and beverage, industrial
and commercial supply, and wire and cable industries.
With approximately CAD $100 million in annual
revenue and nearly half its business intermodal, APPS has more than
400 employees including nearly 100 dedicated drivers plus more than
80 independent contractors, and works with over 250 interline
partners. From its six facilities including its main location
in Mississauga, the company operates a fleet that includes nearly
70 company trucks, close to 250 trailers, and approximately 250
containers.
“We look forward to welcoming the exceptional
APPS team to TFI International, and see a superb opportunity to
drive performance and operational synergies in the months ahead,”
stated Alain Bédard, Chairman, President and Chief Executive
Officer of TFI International. “APPS shares our core values
and has demonstrated rapid, efficient growth over the years.
We anticipate building upon their already impressive track record
by enhancing utilization, growing revenue quality and optimizing
the use of our combined real estate footprint. In particular,
the APPS operational network should provide an excellent strategic
fit with our current operating regions, providing ample opportunity
to further enhance customer service. We eagerly look forward
to seeing the APPS team continue their long-term success under the
TFI umbrella.”
The transaction is expected to close as soon as
possible subject to regulatory review and approval.
ABOUT TFI INTERNATIONALTFI International Inc.
is a North American leader in the transportation and logistics
industry, operating across the United States, Canada and Mexico
through its subsidiaries. TFI International creates value for
shareholders by identifying strategic acquisitions and managing a
growing network of wholly-owned operating subsidiaries. Under the
TFI International umbrella, companies benefit from financial and
operational resources to build their businesses and increase their
efficiency. TFI International companies service the following
segments:
- Package and Courier;
- Less-Than-Truckload;
- Truckload;
- Logistics.
TFI International Inc. is publicly traded on the
New York Stock Exchange and the Toronto Stock Exchange under the
symbol TFII. For more information, visit www.tfiintl.com.
For further information:Alain BédardChairman,
President and CEOTFI International
Inc.647-729-4079abedard@tfiintl.com
TFI (NYSE:TFII)
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TFI (NYSE:TFII)
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