TFI International - M&A Summary and Business Overview

TransportationCompany

TFI International M&A Summary

TFI International has acquired 37 companies, including 13 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 2023, when it acquired Daseke for $1.1B. It’s largest disclosed sale occurred in 2015, when it sold Services Matrec to GFL Environmental for $608M. TFI International has acquired in 12 different US states, and 2 countries. The Company’s most targeted sectors include transportation (86%) and energy services and equipment (6%).

TFI International Business Overview

Where is TFI International headquartered?

TFI International is headquartered in Saint-Laurent, Quebec.

What is TFI International’s revenue?

TFI International disclosed revenue of 8,812M USD for 2022 and 7,220M USD for 2021.

How many employees does TFI International have?

TFI International has 16,408 employees.

What sector is TFI International in?

TFI International is a transportation company.

M&A Summary

  • M&A Total Activity37
    • M&A Buy Activity35
    • 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. TFI International is based in Saint-Laurent, Canada.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (2.6/yr) # 22 4 2 - 6 1 35
vol $1.3B $13M $800M $1.1B $3.2B
Sell (0.2/yr) # 1 - - 1 - - 2
vol $608M $525M $1.1B
  37

Most Recent M&A

Company Date Value Type
Hercules Forwarding, Inc. 2024-03-11 - Add-on Acquisition
New Westminster, British Columbia · www.herculesfreight.com
Daseke, Inc. 2023-12-22 1.1B USD Add-on Acquisition
Addison, Texas · www.daseke.com
Vedder Transportation Group 2023-09-05 - Add-on Acquisition
Abbotsford, British Columbia · www.vtlg.com
JHT Holdings, Inc. 2023-08-07 - Add-on Acquisition
Pleasant Prairie, Wisconsin · www.jhth.com
Siemens Transportation Group, Inc. 2023-05-01 - Add-on Acquisition
Saskatoon, Saskatchewan · www.siemenstransport.com
Hot Line Freight Systems 2023-05-01 - Add-on Acquisition
West Salem, Wisconsin · www.hotlinefreight.com
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
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 30 (86%) 3.2B (99%) 1 (50%) 525M (46%)
Energy Services and Equipment 2 (6%) - - -
Environmental 1 (3%) 19M (1%) 1 (50%) 608M (54%)
Business Services 1 (3%) - - -
Oil/Gas Exploration 1 (3%) - - -
Total 35 $3.2B 2 $1.1B

By Geo

State/Country Buy Value Sell Value
Canada 19 155M 1 608M
  Ontario 10 136M - -
  Quebec 3 19M 1 608M
  British Columbia 3 - - -
  Saskatchewan 1 - - -
  Nova Scotia 1 - - -
  Alberta 1 - - -
United States 16 3.1B 1 525M
  Texas 4 1.3B - -
  Wisconsin 2 - - -
  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 19 (54%) 155M (5%) 1 (50%) 608M (54%)
Cross-border 16 (46%) 3.1B (95%) 1 (50%) 525M (46%)
Total 35 $3.2B 2 $1.1B

Top M&A Advisors

Financial Deals
Morgan Stanley
1
Legal Deals
Scudder Law Firm
1

Deal Values

buy # Total
> $1B 1 $1.1B
$100M to $1B 5 $2.1B
< $100M 3 $64M
TOTAL $3.2B
Largest Daseke, Inc.
$1.1B (2023-12-22)
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)
6%
2 (6%)
Strategic(s)
26%
9 (26%)
Divested to
Strategic(s)
100%
2 (100%)

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