Done deals: March 2, 2023

Torc Robotics & Algolux Inc

Torc Robotics, a subsidiary of Daimler Truck AG and self-driving vehicle technology developer, is acquiring Algolux Inc. for its award-winning intellectual property and expertise in the areas of computer vision and machine learning. Algolux is headquartered in Montreal, with offices in Palo Alto, California, and Munich, Germany.

De Havilland Canada & Aero Transporte S.A.

Aero Transporte S.A. (ATSA) has signed an agreement with De Havilland Aircraft of Canada Limited for a Dash 8-400 freighter conversion with a large cargo door (Dash 8-400 F-LCD). With this agreement, ATSA has become the first South American operator of Dash 8-400 aircraft to join De Havilland Canada’s Cargo Solutions Program and ATSA’s Dash 8-400 F-LCD aircraft will be the first one operating on the continent. ATSA currently operates two Dash 8-400 aircraft from its base in Peru to support the mining sector.

Titanium Transportation Group Inc.

Titanium Transportation Group Inc. has expanded its U.S. based freight-brokerage operations with the opening of its sixth U.S. office in Fayetteville, Arkansas. The company expects to begin operations there in the second quarter of 2023. In the US, Titanium has operations in Charlotte, North Carolina; Atlanta, Georgia; Chicago, Illinois; Nashville, Tennessee; and Denver, Colorado.

SEKO Logistics & Happy Returns

SEKO Logistics is collaborating with Happy Returns, a PayPal company, to let SEKO clients offer their shoppers the option to use Happy Returns’s 5,000-plus in-person Return Bars. Shoppers initiate their return online, and select the “Drop-off In-Person” option to return at a Return Bar. Store credits, refunds or exchanges are approved on the spot, and returns are aggregated and shipped in reusable totes to a regional Return Hub. From there, items are sorted, boxed in bulk, and returned to a SEKO Hub.

WiseTech Global & Envase Technologies

Australia-based WiseTech Global, developer of CargoWise software, has bought Envase Technologies for US$230 million. Envase provides transport management system software for intermodal trucking, drayage (container haulage) and landside logistics in North America. US-based Envase is being acquired from private investment firm and supply chain investor Firmament, and a small number of other sellers. Envase’s more than 1,300 customers across North America include trucking companies, ports, depots, and warehouses. Envase is expected to generate approximately US$35 million of revenue for the calendar year 2023 with an EBITDA margin in the low to mid 20 percent range.