TFI International Mergers and Acquisitions Summary

TransportationCompany

TFI International has acquired 31 companies, including 8 in the last 5 years. A total of 4 acquisitions came from private equity firms. It has also divested 2 assets.

TFI International’s largest acquisition to date was in 2021, when it acquired TForce Freight for $800M. It’s largest disclosed sale occurred in 2015, when it sold Services Matrec to GFL Environmental for $608M. TFI International has acquired in 11 different US states, and 2 countries. The Company’s most targeted sectors include transportation (83%) and energy services and equipment (7%).

Join Mergr and gain access to TFI International’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the transportation sector.

M&A Summary

  • M&A Total Activity31
    • M&A Buy Activity29
    • M&A Sell Activity2
  • Total Sectors Invested 5
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 14
  • M&A Advisors 2

TFI International

TFI International Inc.

8801 Trans-Canada Highway, Suite 500,
Saint-Laurent, Quebec H4S 1Z6
Canada,
(514) 331-4000
www.tfiintl.com

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.


M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (1.4/yr) # 22 - 4 2 - 1 29
vol $1.3B $13M $800M $2.1B
Sell (0.2/yr) # 1 - - - 1 - 2
vol $608M $525M $1.1B
  31

Most Recent M&A

Company Date Value Type
Axsun Group 2023-02-21 - Add-on Acquisition
St Hubert, Quebec · www.axsungroup.com
TFI International - Contract Freighters Truckload Business 2022-08-22 525M USD Divestiture
, United States
D&D Sexton, Inc. 2021-11-29 - Add-on Acquisition
Carthage, Missouri · www.ddsextoninc.com
TForce Freight 2021-01-25 800M USD Divestiture
Richmond, Virginia · www.tforcefreight.com
Keith Hall & Sons Transport 2020-07-31 - Add-on Acquisition
Burford, Ontario · www.keithhalltransport.com
MCT Transportation LLC 2020-06-29 13M USD Divestiture
Sioux Falls, South Dakota
Gusgo Transport 2020-06-12 - Add-on Acquisition
Vaughan, Ontario · www.gusgotrans.com
R.R. Donnelley & Sons Co. - Courier Services Business 2020-03-02 - Divestiture
Chicago, Illinois
Normandin Transit, Inc. 2018-04-03 - Add-on Acquisition
Napierville, Quebec · www.normandintransit.com
World Courier Ground 2017-01-13 - Divestiture
Providence, Rhode Island · www.wcground.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Transport Corporation of America, Inc.    - Transport America - Southeast Drayage Division(TA Drayage) 2013-08-15 1
Eagan, Minnesota · www.transportamerica.com , United States
Vitran Corp, Inc.    - Vitran Corp - Supply Chain Operation Division 2013-02-12 1
Toronto, Ontario · www.vitran.com , United States
I.E. Miller Services, Inc. 2011-11-11 Peak USA Energy Services Ltd. 2012-04-19 1
Eunice, Louisiana , United States

M&A by Sector

Sector Buy # Value Sell # Value
Transportation 24 (83%) 2.1B (99%) 1 (50%) 525M (46%)
Energy Services and Equipment 2 (7%) - - -
Environmental 1 (3%) 19M (1%) 1 (50%) 608M (54%)
Business Services 1 (3%) - - -
Oil/Gas Exploration 1 (3%) - - -
Total 29 $2.1B 2 $1.1B

By Geo

State/Country Buy Value Sell Value
Canada 16 155M 1 608M
  Ontario 10 136M - -
  Quebec 3 19M 1 608M
  Nova Scotia 1 - - -
  British Columbia 1 - - -
  Alberta 1 - - -
United States 13 2.0B 1 525M
  Texas 3 248M - -
  Virginia 1 800M - -
  South Dakota 1 13M - -
  Rhode Island 1 - - -
  New York 1 32M - -
  Missouri 1 - - -
  Minnesota 1 310M - -
  Michigan 1 - - -
  Louisiana 1 - - -
  Illinois 1 - - -
  Connecticut 1 558M - -
Domestic 16 (55%) 155M (7%) 1 (50%) 608M (54%)
Cross-border 13 (45%) 2.0B (93%) 1 (50%) 525M (46%)
Total 29 $2.1B 2 $1.1B

Top M&A Advisors

Financial Deals
Morgan Stanley
 1
Legal Deals
Scudder Law Firm, P.C., L.L.O.
 1

Deal Values

buy # Total
$100M to $1B 5 $2.1B
< $100M 3 $64M
TOTAL $2.1B
Largest TForce Freight
$800M (2021-01-25)
sell # Total
$100M to $1B 2 $1.1B
TOTAL $1.1B
Largest Services Matrec, Inc.
$608M (2015-10-29)

M&A Connections

Deals
Acquired from
Investor(s)
7%
2 (7%)
Strategic(s)
31%
9 (31%)
Divested to
Strategic(s)
100%
2 (100%)

Company Summary

SECTOR

Transportation

Revenue

3,781   5% 2020
3,964   6% 2019
3,761   1% 2018
3,770   2017
(millions of USD) Show More Show Less

Employees

16,408

Public

NYSE: TFII

Former Name

TransForce, Inc. (Canada)

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