M&A Deal Summary

TFI International Acquires TForce Freight

On January 25, 2021, TFI International acquired transportation company TForce Freight from UPS for 800M USD

Acquisition Highlights
  • This is TFI International’s 23rd transaction in the Transportation sector.
  • This is TFI International’s 2nd largest (disclosed) transaction.
  • This is TFI International’s 12th transaction in the United States.
  • This is TFI International’s 1st transaction in Virginia.

M&A Deal Summary

Date 2021-01-25
Target TForce Freight
Sector Transportation
Buyer(s) TFI International
Sellers(s) UPS
Deal Type Divestiture
Deal Value 800M USD

Target

TForce Freight

Richmond, Virginia, United States
website
TForce Freight is a provider of less-than-truckload (LTL) and dedicated truckload (TL) services based in Richmond, Virginia.

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Buyer(S) 1

Buyer

TFI International

Saint-Laurent, Quebec, Canada

website


Category Company
Sector Transportation
Employees16,408
Revenue 8.8B USD (2022)
DESCRIPTION

TFI International is a North American leader in the transportation and logistics industry, operating across Canada and the United States through its subsidiaries. TransForce creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned, operating subsidiaries. Under the TransForce umbrella, companies benefit from financial and operational resources to build their businesses and increase their efficiency. TFI International is based in Saint-Laurent, Canada.


DEAL STATS #
Overall 27 of 35
Sector (Transportation) 23 of 30
Type (Divestiture) 9 of 9
State (Virginia) 1 of 1
Country (United States) 12 of 16
Year (2021) 1 of 2
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-31 Keith Hall & Sons Transport

Burford, Ontario, Canada

Keith Hall & Sons Transport is a family-owned and operator of transportation businesses. Keith Hall & Sons Transport was founded in 1965 and is based in Burford, Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-29 D&D Sexton

Carthage, Missouri, United States

D&D Sexton is a family-owned business operating for more than 40 years, specializing in refrigerated transportation and serving a long-standing customer base with both long-haul over-the-road services as well as local and shuttle operations. D&D has more than 150 company drivers and owner-operators, and close to 40 non-driving employees. D&D Sexton is based in Carthage, Missouri.

Buy -

Seller(S) 1

SELLER

UPS

Atlanta, Georgia, United States

website


Category Company
Founded 1907
Sector Transportation
Employees273,510
Revenue 97.3B USD (2021)
DESCRIPTION
Entrance to UPS' headquarters in Atlanta, Georgia.
Entrance to UPS' headquarters in Atlanta, Georgia.

UPS is a provider in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. UPS was founded in 1907 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 4 of 4
Sector (Transportation) 1 of 1
Type (Divestiture) 4 of 4
State (Virginia) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-02 ShopRunner

King of Prussia, Pennsylvania, United States

ShopRunner, Inc. is a provider of e-commerce platform for various consumer products. ShopRunner was founded in 2009 and is based in King of Prussia, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-08 Bomi Group

Spino d’Adda, Italy

Bomi Group runs cutting-edge transport, warehousing, and supply chain management services for healthcare companies ranging from pharmaceutical and medical equipment manufacturers to hospitals, testing laboratories, and outpatient service providers. Bomi Group was formed in `1985 and is based in Spino d’Adda, Italy.

Buy -