TFI International

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
TFI International Inc.
Formerly
  • Transport Cabano (1985–1992)
  • Cabano-Kingsway (1992–1999)
  • TransForce (1999–2002;2008-2016)
  • TransForce Income Fund (2002–2008)
TypePublic
Industry
Founded1957; 64 years ago (1957) in Cabano, Quebec, Canada
FounderEmond brothers
Headquarters
Head office: Montreal, Quebec, Canada
Executive office: Etobicoke, Ontario
,
Canada
Number of locations
366 facilities:
  • 151 in Eastern Canada
  • 84 in Western Canada
  • 119 in the United States
  • 12 in Mexico
Key people
  • Alain Bédard (chairman, president & CEO)
  • André Bérard (corporate and lead director)
  • David Saperstein (CFO)
RevenueIncrease US$3,484 million (2020)
Increase US$416 million (2020)
Increase US$275 million (2020)
Total assetsIncrease US$3,849 million (2020)
Total equityIncrease US$1,790 million (2020)
Number of employees
16,753 (2020)
Divisions
  • Package and Courier
  • LTL
  • Truckload
  • Logistics
Subsidiaries
Websitetfiintl.com
Footnotes / references
[1][2]

TFI International Inc. is a Canadian transport and logistics company based in Saint-Laurent, Quebec, a borough of Montreal. It operates primarily in Canada, the United States, and Mexico through 4 business segments: less than truckload (LTL), package and courier, logistics, and truckload. It has Canada's largest LTL business,[3] largest trucking fleet,[4][5] and in 2021 was ranked 6th in terms of revenue among both LTL[6] and truckload[7] North American carriers.[8][9] Its trucking fleet consists of over 14,000 company-owned power units, nearly 10,000 owner-operator tractors, nearly 50,000 trailers and over 200 straight trucks.[10][11]

Since 1997,[12] the company's main source of growth has been complete takeovers of smaller logistics companies (over 180 between 1996 and 2020[13]) many of which continue operating as subsidiaries.[14]

History[edit]

Foundation and early history[edit]

The company was founded in 1957 as a regional trucking service in Cabano, Quebec. Particularly in its early years, the company went by a variety of names. It was incorporated in 1985 and known as Groupe Cabano d'Anjou.[13]

In 1987, the company changed its name to Cabano Expeditex Group Inc. along with its acquisition of Groupe Brazeau Inc. from La Verendrye Management Corp. for CA$14.4 million and Expeditex Inc. for CA$12.5 million. Cabano had reported a profit of CA$1.7 million in 1986 but both Brazeau and Expeditex had been unprofitable. The purchases increased Cabano's fleet from 700 to 5,000 vehicles[15] making it the largest trucking company in Quebec and fourth-largest in Canada. Following the acquisitions, Cabano Expeditex focused on reducing debt shutting down 15 terminals by October 1987, had plans to shutter 4 more, and expected to reduce administrative staff at the new acquisitions by about 40% and unionized workers by about 10%.[16]

Cabano Expeditex was forced to restructure its finances under pressure in 1988 and the next year reported losses of CA$16 million. By 1990, however, it was recovering and reported a profit of CA$4 million for the 1990 fiscal year. In July, it acquired the general freight operations of Clarke Transport Routier for CA$2.9 million. This deal added 610 rolling stock units and 300-400 employees to Cabano Expeditex's existing 2,100 employees and 3,200 vehicles.[17] In December 1990 the company changed its name to Cabano Transportation Group.[13]

In 1992, Cabano acquired Ontario-based Kingsway Transports Ltd. and its US operations from Kingsway's parent, Winnipeg-based Federal Industries Ltd. Following the purchase, Cabano changed its name to Cabano-Kingsway. The combined company operated 1,200 trucks, 3,400 trailers, and 63 service centers, and about 3,000 employees in eastern Canada and 19 northern US states. Cabano had been Canada's fourth largest trucking company but this deal meant it surpassed Reimer Express and TNT Canada to become the second largest after CP Express.[18]

Strategy shift[edit]

In 1997, Cabano Kingsway made significant management changes focused on operational efficiency and cost reductions. The company had been severely impacted by a strike in 1996 resulting in an earnings deficit. One key focus of the new management team was to reduce risk by diversifying its service offerings. Early acquisitions, therefore, were primarily intended to increase efficiency and grow new markets and services.[12]

By following their acquisitions strategy and divesting "non-core assets," the company subsequently experienced a significant increase in revenue with a much lower increase in expenses. In 1999, it changed its name to TransForce Inc.[12]

In February 2000, TransForce acquired TST Solutions the parent of US and Canadian LTL carrier TST Overland Express. This purchase represented a significant increase to TransForce's presence in the US. Post acquisition, TST continued to operate as an independent subsidiary.[19][20]

The company made major changes to its structure in 2002 when it converted itself into an income fund known as TransForce Income Fund.[21]

Diversification and expansion[edit]

Also in 2002, TransForce acquired Brampton, Ontario-based parcel-delivery company Canpar Courier. Canpar provides domestic services directly and cross-border services via interline agreements with other carriers and had been established in 1976 as a division of Canadian Pacific Trucks. By the time of its acquisition, Canpar operated 53 terminals and 1,000 vehicles and had reported revenues of approximately $150 million in 2001.[22]

Another significant purchase came in January 2004 when TransForce acquired the assets of Canadian Freightways from the recently bankrupt US trucking company, Consolidated Freightways. The deal was reported at CA$69.6 million plus assumption of debt worth CA$15 million. Canadian Freightways offered LTL, truckload, warehousing, brokerage, and other logistics services.[23] With acquisitions and organic growth, by 2005 TransForce was Canada's largest trucking company operating two dozen subsidiaries with a combined nearly 3,500 trucks and 9,000 trailers.[24]

TransForce again expanded its courier services in October 2007 with the purchase of ICS Courier and its parent Century II Holdings Inc. Founded in 1978 as Information Communication Services, Toronto-based ICS primarily focused on commercial shipments including parcel and document services and claimed 35,000 accounts, more than 1,300 employees and owner-operators, and 35 offices.[25]

In 2008, as part of a corporate restructuring, TransForce Income Fund changed its name back to TransForce Inc.,[26] the name it had used from 1999 to 2002.[21]

In November 2009, Transforce acquired the Retail Solutions Division of ATS Andlauer Transportation Services (ATS). The division focuses on the retail and supply chain sectors and was renamed TForce Integrated Solutions on January 1, 2014.[27]

TransForce expanded its energy services portfolio in 2010 when it acquired Speedy Heavy Hauling for US$32 million and a 19% equity interest in Speedy's parent, Calgary-based EnQuest Energy Services. Speedy focused on the US market and was merged with TransForce's prior US-based energy services acquisition, Hemphill Trucking, to form Hemphill-Speedy.[28]

US and further Canadian expansion[edit]

A semi truck belonging to TFI subsidiary CFI in front of CFI's Joplin, Missouri headquarters in 2017

TransForce moved into the US parcel market with its December 2010 acquisition of Dallas-based Dynamex (NasdaqDDMX) for US$248 million. The company provided parcel delivery and logistics services in both the US and Canada and had reported revenues of US$418 million in the fiscal year ending October 31, 2010. Dynamex would be renamed TForce Logistics.[29] Additional parcel expansion came in June 2011 when TransForce acquired the domestic Canadian business of DHL Express. The division would be operated as Loomis Express and continued to focus on domestic services while offering international services via an alliance with DHL Express.[30][31]

TransForce once again reorganized its energy services holdings in 2012 by consolidating its Canadian subsidiaries Kos Oilfield Transportation and Howard's Transport with their US counterparts Hemphill-Speedy and I.E. Miller to form TForce Energy Services.[32]

A months long campaign by TransForce to acquire one of its largest rivals, Canadian truckload carrier Contrans Group Inc., and its subsidiaries for CA$495 million[33] completed successfully on January 15, 2015.[34][35] Contrans comprised 12 trucking companies primarily in the truckload and specialty truckload markets. Earlier in the year, Contrans as a whole was reported to have operated 1,493 tractors, 2,541 trailers, and 39 straight trucks. The same report showed TransForce with 3,774 tractors, 12,486 trailers, and 3,288 straight trucks across all divisions.[33] Most Contrans subsidiaries continued to operate as TransForce subsidiaries following acquisition.

By 2016, TransForce already had a large LTL presence in the US via a variety of acquisitions but their truckload market share increased significantly with the October purchase of XPO Logistics Truckload, the truckload division of US freight carrier and broker XPO Logistics. The purchase price was reported to be US$558 million. XPO had purchased US carrier Con-Way the previous year but didn't find its truckload division, Con-Way Truckload, to be a good fit for XPO's strategic direction.[36] TransForce renamed the division CFI, the original name of the company acquired by Con-Way which had been rebranded Con-Way Truckload.[37][38]

In December 2016 the company changed its name to TFI International in a move it said "better reflects the increased geographic scope of its operations."[39][12][40] This "increased geographic scope" was illustrated by the company's 2016 reports which showed 53% of its business was in Canada and 47% was in the US.[41]

TFI acquired third-party-logistics provider DLS Worldwide from U.S. company, R. R. Donnelley & Sons Company for US$225 million in November 2020.[42] DLS was renamed TForce Worldwide (later renamed again TFWW) and continued to operate from the former DLS headquarters in Bolingbrook, Illinois.[43]

UPS Freight acquisition[edit]

UPS Freight straight truck. UPS Freight was acquired by TFI in 2021 and renamed TForce Freight.

In January 2021, TFI agreed to purchase UPS' LTL and truckload subsidiary UPS Freight for US$800 million.[44] At the time, the acquisition was the second largest deal in North American trucking history after the 2017 merger of Swift Transportation and Knight Transportation and made TFI one of the largest trucking companies in North America.[45]

UPS Freight had been formed in 2005 when UPS acquired LTL carrier Overnite Transportation and its subsidiary Motor Cargo for US$1.25 billion.[44] In the purchase UPS expected to find synergies between the LTL services of Overnite and UPS' core package services. The move was also a bid to head off rival FedEx[46] which had recently expanded into LTL via a series of acquisitions.[47] However, for UPS the expected synergies did not materialize to the extent expected and the company decided to sell off its freight business and refocus on small package services.[48][49]

The TFI acquisition of UPS Freight was completed in April 2021 and nearly doubled TFI's size to US$6.5 billion in annual revenue.[50] The division's core LTL services were rebranded TForce Freight and would continue to operate out of the carrier's Richmond, Virginia headquarters. The smaller truckload business, representing about 10% of revenues, would be transferred to TFI's other US truckload companies.[48][51] TFI announced plans to invest US$50 million to US$75 million into the new division for fleet upgrades including replacing about 1,000 trucks as well as price renegotiations with customers.[45]

Operations[edit]

Financial performance[edit]

Financial performance (in millions USD)[a]
FY Rev. Op. income Net income Total assets Total equity Emp.[b] Ref/ Note
2018 $3,954.8 $332.0 $224.8 $2,968.7 $1,155.9 17,127 [1] [53]
2019 $3,903.5 $382.9 $233.7 $3,508.8 $1,159.3 17,150 [1]
2020 $3,484.3 $416.6 $275.7 $3,849.4 $1,790.2 16,753 [1]
  1. ^ TFI switched from reporting in CAD to USD effective Dec 31, 2020 but included USD figures for FY 2018 and 2019 in its 2020 Annual Report[52]
  2. ^ Employees as of Dec 31 of the FY
Percentage of revenue breakdown
FY By segment/ business unit By country Ref/ Note
TL LTL Package/ courier Logistics CA US MX
2015 39% 20% 35% 6% [54]
2016 40% 20% 34% 6% 60.5% 39.4% 0.1% [55] [56]
2017 45% 20% 14% 21% 56.5% 43.1% 0.4% [53] [56]
2018 46% 21% 14% 19% 56.3% 43.3% 0.4% [53]
2019 48% 18% 14% 20% 54.7% 44.9% 0.4% [13]
2020 46% 15% 14% 25% 52.5% 47.0% 0.5% [13]

Corporate Management[edit]

Since the late 1990s, TFI has been led by chairman, president, & CEO Alain Bédard. Notable members of the TFI board include former president, CEO, and chairman of the National Bank of Canada André Bérard, former founder and president of CF Montréal Joey Saputo, and former journalist and National Assembly of Quebec member Richard Guay.[57] From 2007 to August 2021 Lucien Bouchard was a member of TFI's board. Bouchard had held a number of senior political positions in Canada including Secretary of State, Premier of Quebec, and Ambassador to France.[58]

Business segments[edit]

ICS Courier van

TFI organizes its divisions and subsidiaries into four business segments.

Package and courier[edit]

The company owns four subsidiaries which together form its package and courier segment. These are:[59]

  • Canpar Express
  • ICS Courier
  • Loomis Express
  • TForce Integrated Solutions

Less-than-truckload[edit]

There are twelve divisions/subsidiaries in TFI's less-than-truckload (LTL) segment. These are a mix of road and intermodal providers. Notable subsidiaries include:[60]

  • Intermodal:
  • Clarke Transport
  • National Fast Freight
  • Vitran

Truckload[edit]

The Truckload segement consists of 43 divisions/subsidiaries providing truckload shipping services. In addition to standard dry van services, subsidiaries also provide specialized truckload services such as flatbed, tank, and intermodal transportation. Notable subsidiaries in this segment include:[61]

  • Specialized:
  • BTC
    • East
    • West
  • Contrans
    • Flatbed Group
    • Tank Group
    • Vrac
  • Fleetway
  • Kingsway Bulk
  • Conventional:
  • CFI
  • CFI Dedicated (formerly Transport America)
  • SGT (formerly SGT 2000)

Logistics[edit]

TFI's Logistics segment is composed of 21 divisions/subsidiaries which provide logistics and transportation management services. Most divisions and subsidiaries primarily handle general freight but some are specialized around certain industries such as chemical transportation and medical logistics. Notable subsidiaries in this segment include:[62]

  • CFI Logistica
  • CFI Logistics
  • Craler
  • DSN Chemical Transportation
  • FreightLine
  • Guardian Medical Logistics
  • Stream Logistics
  • TForce Logistics

Acquisitions[edit]

Since 1997,[12] TFI's primary growth strategy has been through acquisitions having acquired over 180 companies between 1996 and 2020.[13] These include a number of major transportation-related investments and dozens of "tuck-in" acquisitions intended to complement existing operations.[14] TFI gives most subsidiaries (which are largely former independent companies) a certain level of autonomy. That allows each subsidiary to continue to cater to different regional markets and segments as a specialized interest. TFI International then uses its influence and cash flow to help increase the capacity of each subsidiary (like it did in 2010 when its purchase of a 52-door cross dock terminal in Calgary tripled the capacity of TST Overland and expanded its shipping network).[63]

List of TFI International acquisitions
No. Company Services Location Acquired on Acquired for Disposition Ref.
1
  • Divisions of Logistec Corp.
    • Logistec Trucking
 Canada, Montreal, Quebec 1978 [64]
2
  • Subsidiary of La Verendrye Management
    • Brazeau
 Canada 1987 CA$14.4 million [15]
3 Expeditex  Canada 1987 CA$12.5 million [15]
4
  • General freight operations of Clarke Transport Routier
    • Clarke Transport
    • Norway Transport
    • Chicoutimi Transport
    • Cho Bo and Beauce Express
 Canada 1990 CA$2.9 million [17]
5
  • Divisions of Federal Industries
    • Kingsway Transports Ltd.
    • Kingsway Transports Inc.
LTL 1992
  • Merged with Cabano to become Cabano-Kingsway
  • In 1999 Cabano-Kingsway renamed TransForce
[65]
6 Thompson's Transfer Company 1997 [12]
7 Transport Super Rapide 1998 [12]
8 Transport J.C.Germain Truckload  Canada March 1998
  • Now JCG
[13]
9 Transport LeBon Specialty truckload  Canada 1998
  • Merged with TransForce's bulk cargo division to form Kingsway Bulk in 2001
[50]
10
  • Groupe Papineau
    • Papineau International Transport
Truckload  Canada October 1998 [13] [12]
11 Transport M. Courchesne 1998 [12]
12 Raynald April 1998 [12]
13 Transport Nordique 1999 [12]
14 Transport R Mondor 1999 [12]
15 Enterprises Yves Labonte 1999 [12]
16 Transport McGill 1999 [12]
17 Transless 1999 [12]
18
  • TST Solutions
    • TST Overland Express
    • TST Expedited Services
    • three additional subsidiaries
  • LTL
  • Specialty Transport
 Canada, Mississauga, Ontario March 2000 CA$85 million
  • TST Expedited continued as an independent subsidiary
  • TST Overland initially an independent subsidiary until 2020 when it merged with TFI subsidiary Canadian Freightways to form TST-CF Express in 2020
[19] [20]
19 DCA Express 24 2000 [12]
20 Distribution de Colis les Appalaches 2000 [12]
21 Enterprises RR Mondor 2000 [12]
22 Retex Transport Specialty truckload  Canada, Quebec City, Quebec June 2002 CA$5 million [66] [67]
23 Canpar Transport Parcel  Canada, Mississauga, Ontario July 2002 CA$39.5 million [23] [22]
24 Transport Mirald Truckload  Canada, Boucherville, Quebec 16 August 2002 [68]
25 Transport Forestville Specialty truckload  Canada, Quebec City, Quebec 26 February 2003 [69]
26
  • LTL
  • Truckload
  • Logistics
  • Fleet management
  • Customs brokerage
  • Warehousing
  • International freight forwarding
 Canada, Calgary, Alberta January 2004 CA$69.6 million
  • Independent subsidiary (2004–2020)
  • Merged with TFI subsidiary TST Overland Express to form TST-CF Express in 2020
[23] [72] [20]
27 Transport S.A.S.  Canada, Drummondville, Quebec 2004 [73]
28 Transport George Lacaille  Canada, Quebec 2004 [73]
29 Transpel Truckload  Canada, Boucherville, Quebec May 2004 [73]
30 Highland Transport Truckload  Canada Toronto, Ontario October 2004
  • Shut down by TFI in 2019
[74]
31 Services Matrec Waste Management February 2005 [13] [75]
32 Porter Trucking  Canada, Calgary, Alberta 15 February 2005 [76]
33 Groupe Grégoire Truckload  Canada, Plessisville, Quebec 5 May 2005 [24]
34 Express Golden Eagle Truckload  Canada, Bois-des-Filion, Quebec 2005
  • Now Golden International
[77]
35 Rebel Transport Truckload  Canada, Edmonton, Alberta 5 May 2005 [78]
36 Kos Corp. Oilfield Transportation Rig-moving  Canada Drayton Valley, Alberta 2006
  • Independent subsidiary (2006–2012)
  • June 2012 merged with other TFI subsidiaries to form TForce Energy Services
[79] [32]
37 Hemphill Trucking Rig-moving  USA, Grand Junction, Colorado 2006
  • Independent subsidiary (2006–2010)
  • Acquired assets of Speedy Heavy Hauling and changed name to Hemphill-Speedy (2010–2012)
  • June 2012 merged with other TFI subsidiaries to form TForce Energy Services
[13] [28] [32]
38 Howard's Transport Services Rig-moving  Canada 2006
  • Independent subsidiary (2006–2012)
  • June 2012 merged with other TFI subsidiaries to form TForce Energy Services
[80] [32]
39 Streeper Contracting Rig-moving 2006 [13]
40
  • Westfreight Holdings
    • Westfreight Systems
Specialized Truckload  USA 4 January 2007 [81]
41
  • Century II Holdings
    • Information Communication Services DBA ICS Courier
Courier  Canada, Toronto, Ontario 31 October 2007 [25] [13]
42 Location Beaudry
  • Equipment leasing
  • Staffing
2007 [13]
43 Les Consultants en Personnel Logipro
  • Equipment leasing
  • Staffing
2007 [13]
44 MTC Agence de Personnel
  • Equipment leasing
  • Staffing
2007 [13]
45
  • Division of ATS Andlauer Transportation Services
    • Retail Solutions
Customized Freight 19 November 2009
  • Independent subsidiary as TForce Integrated Solutions
[27]
46 Thibodeau Group
  • Truckload
  • LTL
 Canada, Portneuf, Quebec November 2007 [82]
47 GHL Transport Specialty truckload  Canada, Anjou, Quebec 2008 [50]
48 Kingsway Alimentaire Specialty truckload  Canada, Anjou, Quebec 2008 [50]
49 Centre de Mécanique Henri Bourassa (CMHB) Tank repair and maintenance  Canada, Anjou, Quebec 2008 [50]
50
  • Subsidiaries of EnQuest Energy Services
    • Speedy Heavy Hauling[a]
    • Other small, US subsidiaries
Rig-moving  USA 2010 US$32 million
  • Assets absorbed by TFI subsidiary Hemphill Trucking which was renamed Hemphill-Speedy
[28]
51 Concord Transportation
  • LTL
  • Truckload
 Canada Toronto, Ontario August 2011 CA$10 million[b] [83]
52 Dynamex Same-day parcel delivery  USA Dallas, Texas December 2010 US$248 million
  • Independent subsidiary as TForce Logistics
[84] [85]
53 IE Miller Services[c]  USA 30 November 2011 [86]
54 Pedersen Transport
  • LTL
  • Truckload
 Canada Alberta December 2011 [citation needed]
55 Domestic business of DHL Express Canada Parcel  Canada 2011 US$25 million
  • Independent subsidiary as Loomis Express
[30] [31]
56 Quik X Transportation LTL Intermodal  Canada Mississauga, Ontario January 2012 [85]
57
  • Subsidiaries of Clarke Inc.
    • Clarke Transport
    • Clarke Road Transport
  • LTL
  • Intermodal LTL
  • Truckload
 Canada January 2014 CA$88 million [87]
58 Vitran Corporation
  • LTL
  • Intermodal LTL
  • Truckload
[d]
 Canada Toronto, Ontario March 2014 CA$136 million[d] [88]
59
  • Subsidiary of Hazen Transport
    • Hazen Final Mile
 USA May 2014 [89]
60 Transport America Truckload  USA, Minnesota 2014 US$310 million
  • Rebranded CFI Dedicated in 2021
[90][91]
61
  • Contrans Group Inc.
    • Archer Trucking
    • Glen Tay Trucking
    • Laidlaw Carriers Tank
    • Peter Hodge Transport
    • Tri-Line Carriers
    • Brookville Carriers
    • Contrans Flatbed Group
    • Laidlaw Carriers Bulk
    • S&S Enterprises
    • Laidlaw Carriers Van
    • Tripar Transportation
    • Cornerstone Logistics
  • Truckload
  • Specialty Truckload
  • Logistics Management
 Canada, Woodstock, Ontario 11 November 2014 CA$495 million
  • Most subsidiaries continued independent operations as TransForce subsidiaries
  • Archer, Glen Tay, and Laidlaw Tank were merged with Keith Hall, Canadian Bulk Carriers (CBC), and Future Transportation to form TFI subsidiary Contrans Tank Group
[92] [33] [34] [35] [93] [50]
62
Truckload  USA, Joplin, Missouri October 2016 US$558 million
  • Independent subsidiary as CFI[e]
[36] [38] [37]
63 Villeneuve Tank Lines Specialty truckload 2017
  • Merged with Brasseur Transport to form Contrans Vrac
[50]
64
  • Medical Same-Day Parcel
  • Expedited Trucking
  • Warehousing
 USA 13 January 2017
  • Division of Dynamex as TForce Critical
[94]
65 Cavalier Transportation Services
  • LTL
  • Brokerage
  • Warehousing
 Canada, Bolton, Ontario 28 January 2017 [95]
66 Les enterprises Dupont Specialty truckload  Canada, Montreal, Quebec 28 May 2017 [95]
67 Premier Product Management Household appliance delivery  USA, California 31 October 2017 [95]
68 Normandin Transit
  • LTL
  • Truckload
 Canada, Quebec 3 April 2018 [53]
69 Brasseur Transport
  • Liquid bulk truckload
 Canada, Quebec 1 May 2018
  • Merged with Villeneuve to form Contrans Vrac
[53] [50]
70 Timeline Logistic
  • Oil and Gas
  • Forestry
 Canada, Saskatoon, Saskatchewan 1 July 2018 [53]
71 Gorski Bulk Transport
  • Tank truck transport
 Canada, Ontario 1 October 2018
  • Independent subsidiary, now GBT
[53] [50]
72 Double-D Transport
  • Oversized freight
 Canada, Ontario 1 November 2018 [53]
73 SAF Transport
  • Specialty truckload
 Canada, Quebec 21 November 2018 [53]
74 A. Beaumont Transport
  • Specialty truckload
 Canada, Quebec 1 December 2018 [53]
75 Hughson Trucking[a]
  • Oil and Gas
  • Forestry
 Canada, Alberta 4 December 2018 [53]
76 Cole Carriers Corp.[a]
  • Supply Chain Management
 Canada, Ontario 14 December 2018 [53]
77 Toronto Tank Lines (TTL) Specialty truckload  Canada, Ontario 15 February 2019 [96]
78 Schilli Corporation Specialty truckload  USA, Missouri 22 February 2019
  • Independent subsidiary
  • Renamed Bulk Transport Co. East (BTC East) in September, 2019
[96]
79 Les Services JAG Specialty truckload  Canada, Quebec 19 March 2019 [96]
80
  • Aulick Leasing Corp.[f]
    • ShirAul
  • Specialty truckload
  • Equipment manufacture
 USA, Scottsbluff, Nebraska 1 April 2019
  • Independent subsidiary later renamed Bulk Transport Co. West (BTC West)
[97] [41] [98]
81
  • BeavEx
    • Guardian Medical Logistics
    • JNJW Enterprises
    • USXP
  • Final-mile delivery
  • Home delivery
  • Distribution
 USA 27 April 2019 US$7.2 million [96]
82 Piston Tank Corporation Specialty truckload  USA, Missouri 14 June 2019
  • Merged into BTC East
[96] [50]
83 AT Group US Logistics[a]
  • Final-mile delivery
  • Logistics
  • Brokerage
 USA, Georgia 7 August 2019 [96]
84 Craler Inc. Specialty truckload  Canada, Quebec 22 August 2019 [96]
85
_row_countPL  USA, Bolingbrook, Illinois 2 March 2020 US$225 million
  • Independent subsidiary as TForce Worldwide
  • Later renamed TFWW
[42] [43]
87
  • Gusgo Transport
    • Seatainer Transport
 Canada, Toronto, Canada 17 June 2020 [99]
88
  • Divisions of Comcar Industries
    • MCT Transportation[a]
    • Coastal Transport[a]
    • CCC Transportation[a]
  • Specialty truckload
  • Logistics
  • 25 June 2020
  • 26 June 2020
  • 8 September 2020
US$34.6 million[g]
  • Coastal and CCC merged into BTC East
  • MCT rebranded as CFI Temp-Control, a division of CFI
[71] [70] [100] [101][91]
89
90
91 DSN Chemical Transportation Logistics 16 July 2020 [13]
92 Keith Hall & Sons Transport Limited Specialty truckload  Canada, Burford, Ontario 31 July 2020
  • Merged into Contrans Tank Group
[102] [50]
93 TBM Logistics Specialty truckload 18 September 2020 [13]
94 Desrosiers Transport[a] Specialty truckload 1 October 2020 [13]
95
  • Division of Grammer Logistics
    • Grammer Dry Bulk
Logistics  USA, Bolingbrook, Illinois October 2020
  • Merged into BTC East
[103]
96 Freightline Carrier Systems Logistics 31 October 2020 [13]
97 Excel Transportation Group LTL 29 November 2020 [13]
98 Fleetway Transport Truckload  Canada, Brampton, Ontario 1 February 2021
  • Independent subsidiary
[104] [105]
99 Michel Charbonneau Specialty truckload January 2021
  • Merged into Kingsway Bulk
[50]
100 Transport Bergeron Specialty truckload January 2021
  • Merged into Kingsway Bulk
[50]
101
  • Division of UPS
    • UPS Freight
  • LTL
  • Truckload
 USA, Richmond, Virginia 30 April 2021 US$800 million [48] [51]
102 Procam International
  • LTL
  • Specialty truckload
  • 3PL
  • Warehousing
 Canada, Laval, Quebec 1 June 2021 [106]
103 SGT2000 Truckload  Canada, Saint-Germain-de-Grantham, Quebec October 2021 [107]
104 FreightLine Carrier Systems 2021 [108]
105 Driving Force Decks 2021 [109]
106 D&D Sexton Specialty Truckload  USA, Carthage, Missouri 29 November 2021
  • Subsidiary of CFI
[110][111]
  1. ^ a b c d e f g h i This was an asset-only purchase where TFI acquired the majority of the assets of the company but not the company itself.[28][70][71][23]
  2. ^ Purchase price included $2 million in company shares. Prior to acquisition, Concord had annual revenues of $35 million, 96 employees and offices in Illinois, California and Washington in addition to Western Canada.[83]
  3. ^ Prior to acquisition the company, founded in 1936, operated eight terminals in Texas, Louisiana, Oklahoma, North Dakota and Colorado with a workforce of approximately 400. It was a former subsidiary of Complete Production Services.[86]
  4. ^ a b By November 2013, TransForce owned approximately 19.95% of Vitran's shares and had signed a "lock-up" agreement that would require Vitran to sell to TransForce if it made an offer.[87] Vitran agreed to be acquired by Manitoulin Transport Inc. in December 2013 but reversed its decision and accepted the TransForce offer in January.[88] When acquired, Vitran had already sold its Supply Chain Operation (SCO) unit to 3PL Legacy Supply Chain Solutions in March 2013 and its US LTL business in October.[88]
  5. ^ a b This unit included the former Con-way Truckload operations which XPO had acquired in 2015. Con-way Truckload was the rebranding of Contract Freighters Inc. (CFI) following Con-way's 2007 purchase of that carrier.[36][37]
  6. ^ TFI did not acquire Aulick Leasing's other subsidiaries: Aulick Industries, Aulick Air, Tow-Aul & Recovery, and Stor-Aul.[41]
  7. ^ Total of US$34.6 million includes US$12.8 million for MCT, US$15 million for CT, and US$6.8 million for CCC. Each was completed as a separate transaction.[71][70][100]


Controversies[edit]

In August 2020, TFI's four Canadian courier subsidiaries, Canpar Express, ICS Courier, Loomis Express and TForce Integrated Solutions, were the victims of ransomware attacks.[112] All four company websites were taken down by TFI for some time but TFI stated no customer data had been obtained by hackers.[113] Subsequently, three internal documents from Canpar Express were leaked to the dark web. The source of the leak appeared to be hacking group DoppelPaymer.[114] Following the attack, some Canpar customers reported shipping delays.[115]

References[edit]

  1. ^ a b c d TFI International (March 2021). "2020 Annual Report" (PDF). TFI International. Archived (PDF) from the original on 13 August 2021. Retrieved 13 August 2021.
  2. ^ "Financial Post Corporate Snapshot – TFI International Inc". FP Advisor. Archived from the original on 2021-08-18. Retrieved 23 August 2021.
  3. ^ "TransForce in buying mood again; takes over ATS retail biz". Today's Trucking. 9 October 2009. Archived from the original on 2010-11-29. Retrieved 26 April 2010.
  4. ^ "Canada's Top 100 truck fleets topped by TFI International". Truck News. Today's Trucking. 9 June 2020. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  5. ^ "TransForce expands its waste section". Today's Trucking. 3 February 2010. Archived from the original on 2011-10-02. Retrieved 26 April 2010.
  6. ^ "2021 Top Less-Than-Truckload Carriers". Transport Topics. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  7. ^ "2021 Top Truckload/Dedicated Carriers". Transport Topics. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  8. ^ Schulz, John D. (4 January 2007). "Top 50 Trucking Companies Special Report: Excellence in Motion". Logistics Management. Archived from the original on 2010-03-30.
  9. ^ "Arkansas Best Widens 1st Quarter Loss on Low Freight Levels". Truckinginfo. Heavy Duty Trucking. 26 April 2010. Archived from the original on 2011-07-17. Retrieved 26 April 2010.
  10. ^ "Top 100 – TFI International". Transport Topics. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  11. ^ "TFI International profile". Financial Times. Archived from the original on 2011-07-18. Retrieved 26 April 2010.
  12. ^ a b c d e f g h i j k l m n o p q r Brooks, Mary R.; Ritchie, Pamela (22 June 2005). "Trucking Mergers and Acquisitions in Canada and the U.S. Since NAFTA". Transportation Journal. 44 (3): 31–32. ISSN 0041-1612. JSTOR 20713604. Retrieved 18 August 2021.
  13. ^ a b c d e f g h i j k l m n o p q r s t TFI International (18 February 2021). "Annual Information Form for the Fiscal Year Ended December 31, 2020". SEC:EDGAR. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  14. ^ a b "TransCore's freight index continues to rise above 2009". Today's Trucking. 20 August 2010. Archived from the original on 2011-10-02. Retrieved 16 September 2010.
  15. ^ a b c Dunn, Brian (22 July 1987). "Fast-growing Cabano hopes to stay healthy". The Gazette. Montreal, Quebec. p. 19. Retrieved 1 September 2021 – via Newspapers.com.
  16. ^ Dunn, Brian (7 October 1987). "Trucker Cabano aims to cut debts inherited from acquired firms". The Gazette. Montreal, Quebec. p. C-3. Retrieved 1 September 2021 – via Newspapers.com.
  17. ^ a b McGovern, Sheila (31 July 1990). "Cabano Expeditex buys Clarke Transport". The Gazette. Montreal, Quebec. p. 11. Retrieved 1 September 2021 – via Newspapers.com.
  18. ^ Swift, Allan (26 May 1992). "Quebec trucker takes 2nd place with takeover of Kingsway". The Vancouver Sun. Canadian Press. p. D2. Retrieved 1 September 2021 – via Newspapers.com.
  19. ^ a b "TransForce to acquire LTL specialist TST Solutions". Truck News. Today's Trucking. 1 February 2000. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  20. ^ a b c Kingston, John (3 August 2020). "TFI's Bedard Signals Growing Focus on Company's LTL Operations". Freight Waves. Archived from the original on 14 August 2021. Retrieved 15 August 2021.
  21. ^ a b "TransForce shareholders approve conversion to income fund". Truck News. Today's Trucking. 16 September 2002. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  22. ^ a b "TransForce to acquire Canpar Transport". The Globe and Mail. 31 May 2002. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  23. ^ a b c d Partridge, John (27 August 2003). "Transforce keeps trucking". The Globe and Mail. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  24. ^ a b "TransForce keeps growing in Quebec with Groupe Gregoire buy". Truck News. Today's Trucking. 21 April 2005. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  25. ^ a b "Information Communication Services (ICS) Inc Company Profile". Dun & Bradstreet. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  26. ^ "TransForce Completes Conversion, Name Change". Transport Topics. 14 May 2008. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  27. ^ a b TransForce (19 November 2009). "TransForce Inc. Completes Acquisition of ATS Andlauer Retail Solutions Division" (Press release). Montreal, Quebec: Canadian News Wire. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  28. ^ a b c d Bouchard, Steve (15 July 2010). "TransForce Inc. procédera à l'acquisition des actifs d'EnQuest Energy Services aux États-Unis". Transport Routier (in French). Archived from the original on 14 August 2021. Retrieved 14 August 2021.
  29. ^ Delean, Paul (15 December 2010). "TransForce makes move into U.S. with bid for Dynamex". The Gazette. Montreal. p. B3.
  30. ^ a b "TransForce strengthens courier offering with purchase of DHL's Canadian business". The Record. The Canadian Press. 29 April 2011. Archived from the original on 15 August 2021. Retrieved 15 August 2021.
  31. ^ a b Mukhopadhyay, Bhaswati (29 April 2011). Kalluvila, Sriraj (ed.). "TransForce to buy DHL Express Canada's domestic business". Reuters. Archived from the original on 15 August 2021. Retrieved 15 August 2021.
  32. ^ a b c d "TransForce announces strong Q2 results". Canadian Sailings. 24 August 2012. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  33. ^ a b c Menzies, James (25 July 2014). "TransForce to take over Contrans in mega-merger (Updated with Analysts' Reactions)". Truck News. Today's Trucking. Archived from the original on 20 August 2021. Retrieved 20 August 2021.
  34. ^ a b TransForce (11 November 2014). "TransForce Successfully Completes Offer for Contrans Group Inc" (Press release). Montreal, Quebec and Woodstock, Ontario: Canadian News Wire. Archived from the original on 20 August 2021. Retrieved 20 August 2021.
  35. ^ a b TFI International (15 October 2015). "Business acquisition report – May 2015". SEC. Archived from the original on 20 August 2021. Retrieved 20 August 2021.
  36. ^ a b c Lockridge, Deborah (27 October 2016). "XPO Logistics Sells Truckload Operations to TransForce". Truckinginfo. Heavy Duty Trucking. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  37. ^ a b c "Con-way Acquires CFI in $750 Million Transaction". Truckinginfo. Heavy Duty Trucking. 16 July 2007. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  38. ^ a b Lockridge, Deborah (28 October 2016). "CFI Name Returns With TransForce Acquisition". Truckinginfo. Heavy Duty Trucking. Archived from the original on 5 August 2021. Retrieved 13 August 2021.
  39. ^ "TransForce changes corporate name to TFI International". Truck News. Today's Trucking. 23 December 2016. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  40. ^ TransForce (28 November 2016). "TransForce Intends to Change Corporate Name to TFI International Inc" (Press release). Montreal, Quebec: Marketwired. Archived from the original on 19 August 2021. Retrieved 19 August 2021 – via Yahoo! Finance.
  41. ^ a b c Johnson, Brittany (4 April 2019). "Who purchased Aulick Leasing?". NBC Nebraska Scottsbluff. Archived from the original on 19 August 2021. Retrieved 19 August 2021.
  42. ^ a b Van Praet, Nicolas (15 September 2020). "Quebec trucking company TFI buys U.S. Company DLS for US$225-million, its eighth acquisition this year". The Globe and Mail. Archived from the original on 2020-09-20. Retrieved 22 September 2020.
  43. ^ a b TFI International (2 November 2020). "TFI International Completes Previously Announced DLS Worldwide Acquisition" (Press release). Montreal, Quebec: TFI International. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  44. ^ a b Trunick, Perry A (31 May 2005). "The incredible shrinking LTL industry". Material Handling & Logistics. Retrieved 23 August 2021.
  45. ^ a b Page, Paul (26 January 2021). "Trucker TFI International Aims to Boost Margins at UPS Freight". Wall Street Journal. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  46. ^ Nguyen, Terrence (16 May 2005). "UPS to buy Overnite". Fleet Owner. Archived from the original on 26 June 2010. Retrieved 2 June 2010.
  47. ^ "FedEx $950M takeover bid". CNN Money. New York. CNNfn. 13 November 2000. Archived from the original on 12 August 2021. Retrieved 12 August 2021.
  48. ^ a b c Smith, Jennifer; Ziobro, Paul (25 January 2021). "UPS to Sell Freight Trucking Business to TFI for $800 Million". Wall Street Journal. ISSN 0099-9660. Archived from the original on 25 January 2021. Retrieved 25 January 2021.
  49. ^ Ziobro, Paul (29 July 2020). "Coronavirus Shifts Pricing Power to UPS and FedEx, and They Are Using It". Wall Street Journal. ISSN 0099-9660. Archived from the original on 26 January 2021. Retrieved 25 January 2021.
  50. ^ a b c d e f g h i j k l m McDaniel, Jason (5 August 2021). "Acquisitional by nature: TFI grows Tank Group into $500M operation". Bulk Transporter. Archived from the original on 20 August 2021. Retrieved 20 August 2021.
  51. ^ a b TFI International (30 April 2021). "TFI International Completes Previously Announced UPS Freight Acquisition" (Press release). Montreal. Globe Newswire. Archived from the original on 2021-05-03. Retrieved 3 May 2021 – via Bloomberg.
  52. ^ "TFI International beats expectations as Q4 profits surge on higher revenues". Elliot Lake Today. Montreal. Canadian Press. February 8, 2021. Retrieved 28 October 2021.
  53. ^ a b c d e f g h i j k l TFI International (March 2019). "2018 Annual Report" (PDF). TFI International. Archived (PDF) from the original on 18 August 2021. Retrieved 16 August 2021.
  54. ^ TransForce (February 16, 2016). "Management's Discussion and Analysis for the fourth quarter and year ended December 31, 2015". SEDAR. Retrieved 28 October 2021.
  55. ^ TFI International (October 2017). "Q3 Third Quarterly Report: Three-Month Period Ended September 30, 2017" (PDF). Archived from the original (PDF) on 2018-11-21. Retrieved 20 November 2018.
  56. ^ a b TFI International (March 2018). "Annual Information Form for the Fiscal Year Ended December 31, 2017" (PDF). Archived from the original (PDF) on November 21, 2018. Retrieved 20 November 2018.
  57. ^ "TransForce Inc. Board of Directors". Archived from the original on 11 January 2012. Retrieved 13 August 2021.
  58. ^ TFI International (13 August 2021). "TFI International Announces Board Departure of Lucien Bouchard" (Press release). Montreal Quebec: Globe Newswire. Archived from the original on 16 August 2021. Retrieved 16 August 2021.
  59. ^ "Package and Courier". TFI International. Archived from the original on 15 August 2021. Retrieved 15 August 2021.
  60. ^ "Less-Than-Truckload". TFI International. Archived from the original on 15 August 2021. Retrieved 15 August 2021.
  61. ^ "Truckload". TFI International. Archived from the original on 15 August 2021. Retrieved 15 August 2021.
  62. ^ "Logistics". TFI International. Archived from the original on 15 August 2021. Retrieved 15 August 2021.
  63. ^ "TransForce buys terminal in Calgary". The Gazette (Montreal). 8 July 2010. p. B3.
  64. ^ "Truck firm bought". Edmonton Journal. 29 November 1978. p. H18. Retrieved 1 September 2021 – via Newspapers.com.
  65. ^ Johnson, Gregory S. (26 May 1992). "CABANO TO BUY KINGSWAY OPERATIONS TO BOOST SHARE OF CANADIAN TRUCKING". JOC. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  66. ^ "TransForce to acquire Retex Transport". The Globe and Mail. 22 June 2002. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  67. ^ "TransForce Continues Acquisition Streak". Fleet Owner. 2 September 2004. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  68. ^ "TransForce to buy Transport Mirald". Truck News. Today's Trucking. 7 August 2002. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  69. ^ "TransForce acquires Quebec-based petroleum hauler". Truck News. Today's Trucking. 26 February 2003. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  70. ^ a b c Tabak, Nate (30 June 2020). "TFI scoops up flatbed carrier CT Transportation from bankrupt Comcar". FreightWaves. Archived from the original on 14 August 2021. Retrieved 14 August 2021.
  71. ^ a b c Tabak, Nate (29 June 2020). "TFI acquires most of MCT assets from Comcar". FreightWaves. Archived from the original on 14 August 2021. Retrieved 14 August 2021.
  72. ^ Canadian Freightways. "Company History". Canadian Freightways. Archived from the original on 20 October 2007. Retrieved 24 December 2006.
  73. ^ a b c "Bedard does it again: TransForce buys sixth largest Quebec carrier". Truck News. Today's Trucking. 28 April 2004. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  74. ^ Stinson, Jim (4 June 2019). "TFI Closes Highland Transport Subsidiary". Transport Topics. Archived from the original on 19 August 2021. Retrieved 19 August 2021.
  75. ^ Messenger, Ben (22 February 2016). "GFL Environmental Completes CAD$800m Acquisition of Matrec". Waste Management World. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  76. ^ "TransForce purchasing Porter Trucking". The Globe and Mail. 25 January 2005. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  77. ^ "TransForce purchases two more Quebec-based fleets". Truck News. 4 October 2005. Retrieved 21 October 2021.
  78. ^ Jang, Brent (5 October 2005). "Deal for oil services firm adds to Transforce fleet". The Globe and Mail. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  79. ^ "TransForce expands into oilfield services". Truck News. Today's Trucking. 1 August 2014. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  80. ^ "TransForce Income Fund Acquires Howard's Transport Services". Transport Topics. 29 August 2006. Archived from the original on 14 August 2021. Retrieved 14 August 2021.
  81. ^ "TransForce completes Westfreight purchase". Commercial Carrier Journal. 4 January 2007. Retrieved 21 October 2021.
  82. ^ Gallagher, Thomas L. (26 November 2007). "TransForce to Acquire Thibodeau Group". JOC. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  83. ^ a b "TransForce gets richer; buys Concord". Today's Trucking. 4 August 2011. Archived from the original on October 2, 2011. Retrieved 5 August 2011.
  84. ^ Cassidy, William B. (15 December 2010). "TransForce Acquires Dynamex for $248 Million". JOC. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  85. ^ a b "TransForce to cut hundreds of Loomis jobs but adds 600 with Quik X acquisition". Guelph Mercury Tribune. The Canadian Press. 1 November 2011. Archived from the original on 15 August 2021. Retrieved 15 August 2021.
  86. ^ a b "COMPETITION WATCH: TransForce acquires I.E. Miller Services". Truck News. November 11, 2011. Archived from the original on August 18, 2021. Retrieved February 8, 2012.
  87. ^ a b "TransForce Purchase Clarke, Ups Ownership in Vitran". Truckinginfo. Heavy Duty Trucking. 1 November 2013. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  88. ^ a b c Berman, Jeff (2 January 2014). "Vitran shifts gears, announces it will be acquired by TransForce instead of Manitoulin". Logistics Management. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  89. ^ Langis, Brian (25 April 2015). "TransForce: Time To Get Rolling (NYSE:TFII)". Seeking Alpha. Archived from the original on 15 August 2021. Retrieved 15 August 2021.
  90. ^ "Quebec's TransForce to acquire Transport America for $310m". CTV News. Montreal. Canadian Press. 2 June 2014. Retrieved 21 October 2021.
  91. ^ a b "CFI Reorganizes and Expands into One Company with Five Distinct Services". DC Velocity. Joplin, Missouri. 8 November 2021. Retrieved 29 November 2021.
  92. ^ "TransForce bids to acquire Ontario trucking company Contrans for $495 million". Canadian Business. Montreal. The Canadian Press. 24 July 2014. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  93. ^ Hale, Richard (7 November 2014). "Canada Gives TransForce Green Light To Buy Trucking Rival Contrans". Truckers Logic. Archived from the original on 20 August 2021. Retrieved 20 August 2021.
  94. ^ "TFI International Expands Into Last-Mile Medical Delivery With Acquisition". Transport Topics. 23 January 2017. Archived from the original on 13 August 2021. Retrieved 13 August 2021.
  95. ^ a b c TFI International. "2017 Annual Report" (PDF). TFI International. Archived (PDF) from the original on 18 August 2021. Retrieved 18 August 2021.
  96. ^ a b c d e f g TFI International (March 2020). "2019 Annual Report" (PDF). TFI International. Archived (PDF) from the original on 18 August 2021. Retrieved 16 August 2021.
  97. ^ Tabak, Nate (1 April 2019). "TFI expands U.S. specialized truckload business with new acquisition". FreightWaves. Archived from the original on 19 August 2021. Retrieved 19 August 2021.
  98. ^ BTC West. "About". BTC West. Archived from the original on 19 August 2021. Retrieved 19 August 2021.
  99. ^ Tabak, Nate (18 June 2020). "TFI International completes Gusgo acquisition". FreightWaves. Archived from the original on 14 August 2021. Retrieved 14 August 2021.
  100. ^ a b Tabak, Nate (9 September 2020). "TFI acquires CCC Transportation from Comcar". FreightWaves. Archived from the original on 14 August 2021. Retrieved 14 August 2021.
  101. ^ Kingston, John (6 September 2020). "Comcar's final unit will be sold to TFI subsidiary, court documents show". FreightWaves. Archived from the original on 14 August 2021. Retrieved 14 August 2021.
  102. ^ TFI International (31 July 2020). "TFI International Acquires Keith Hall & Sons" (Press release). TFI International. Archived from the original on 18 August 2021. Retrieved 18 August 2021.
  103. ^ Maiden, Todd (5 October 2020). "TFI expands portfolio in Grammer Dry Bulk deal". FreightWaves. Archived from the original on 14 August 2021. Retrieved 14 August 2021.
  104. ^ Ashley (2 February 2021). "Following blockbuster UPS Freight acquisition, TFI buys truckload and heavy-haul carrier". CDL Life. Archived from the original on 16 August 2021. Retrieved 16 August 2021.
  105. ^ Maiden, Todd (1 February 2021). "TFI still making deals, acquires Fleetway". FreightWaves. Archived from the original on 16 August 2021. Retrieved 16 August 2021.
  106. ^ Tabak, Nate (16 June 2021). "TFI M&A engine keeps purring, acquires Procam". FreightWaves. Archived from the original on 14 August 2021. Retrieved 16 August 2021.
  107. ^ Carcano, Sonia (21 October 2021). "TFI International's Acquisition of SGT2000". Global Legal Chronicle. Retrieved 21 October 2021.
  108. ^ "Stillwater involved in five transportation deals, anticipates more M&A activity". Truck News. 28 April 2021. Retrieved 21 October 2021.
  109. ^ TFI International (26 July 2021). "Q2 Second Quarterly Report" (PDF). TFI International. Retrieved 21 October 2021.
  110. ^ "TFI International Acquires Missouri-based Refrigerated Transportation Services Provider". MarketScreener. MT Newswires. 29 November 2021. Retrieved 29 November 2021.
  111. ^ TFI International (29 November 2021). "TFI International Acquires D&D Sexton". TFI International (Press release). Retrieved 29 November 2021.
  112. ^ Tabak, Nate (23 August 2020). "Ransomware attack hits TFI's Canadian courier divisions". FreightWaves. Retrieved 21 October 2021.
  113. ^ Nichols, Shaun (24 August 2020). "Canadian shipping company Canpar gets an unwanted delivery – ransomware". The Register. Retrieved 21 October 2021.
  114. ^ Tabak, Nate (25 August 2020). "Files from TFI's Canpar leak after ransomware attack". FreightWaves. Retrieved 21 October 2021.
  115. ^ Rowe, Daniel J. (21 August 2020). "Customers complain of delays after ransomware attack on delivery company Canpar Express". CTV News. Montreal. Retrieved 21 October 2021.

External links[edit]