MONTREAL – TFI International Inc. is acquiring Apps Transport Group.
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. Apps serves the retail, consumer goods, automotive supply, food and beverage, industrial and commercial supply, and wire and cable industries.
Started with two trucks and two employees by Robert MacDonald in Woodbridge, Ontario, the company had doubled in size within two years and that trend continued for the next several years landing it on Canada’s Fastest Growing Companies list three times. Apps won an Outstanding Business Achievement Award from The City of Brampton in 2008.
Now it makes approximately $100 million in annual revenue and more than 400 employees, including nearly 100 dedicated drivers and more than 80 independent contractors, and works with over 250 interline partners.
The company operates a fleet that includes nearly 70 company trucks, close to 250 trailers, and approximately 250 containers, from six facilities including its main location in Mississauga.
“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,” said Alain Bédard, chairman, president and CEO 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.
TFI International Inc. operates across the United States, Canada and Mexico through its subsidiaries. TFI International companies service the following segments: package and courier; less-than-truckload; truckload; and, logistics.