May 2, 2023

TFI buys Siemens Transportation Group

Emily Atkins

TFI International Inc. announced it is acquiring Siemens Transportation Group (STG).

Founded in 1962, and based in Saskatoon, Saskatchewan, STG is a family-owned business. The majority of STG’s operations are LTL (less-than-truckload), with a smaller portion of its business in
truckload and flatbed. It has 15 terminals, including 11 in Canada and four in the US, generating annual revenues of approximately $150 million.

STG’s Doug Siemens will continue to manage the business as part of TFI’s Less-Than-Truckload segment, reporting to executive vice-president Chris Traikos.

The transaction is subject to regulatory approval. Terms were not disclosed.

TFI has also completed the acquisition of Hot Line Freight Systems.

Founded in 1988, Hot Line is a specialized LTL provider based in Wisconsin. The company’s nearly 200 employees operate
a network of 14 terminals (eight of which are owned), generating approximately US$30 million in annual revenues.

With a focus on expedited one- to two-day LTL service across the Midwest as well as an over-the-road division
concentrating on high-value and white glove freight, Hot Line is known for its customer service.

Hot Line’s Paul Burgmeier will continue to manage the business as part of TFI’s Less-Than-Truckload segment, reporting to executive vice-president Rick Hashie.

“We are pleased to be expanding our LTL footprint in both Canada and the US with these two LTL acquisitions,” said Alain
Bédard, chairman, president, and CEO of TFI International.

“STG’s impressive family-run approach has attracted a loyal customer base across diverse industries, and its compelling geographic presence and well-maintained equipment strategically complement our growing network. Hot Line is another highly attractive acquisition with well-run operations and a strong presence in the midwestern US that will further bolster our LTL presence while allowing us to ramp its cross-border business. We are thrilled to welcome Doug, Paul and their impressive teams to our growing family of companies and look forward to watching both STG and Hot Line succeed under the TFI International umbrella.”