M&A Deal Summary

TFI International Acquires Axsun

On February 21, 2023, TFI International acquired business services company Axsun

Acquisition Highlights
  • This is TFI International’s 1st transaction in the Business Services sector.
  • This is TFI International’s 16th transaction in Canada.
  • This is TFI International’s 3rd transaction in Quebec.

M&A Deal Summary
Date 2023-02-21
Target Axsun
Sector Business Services
Buyer(s) TFI International
Deal Type Add-on Acquisition

Target

Axsun

St Hubert, Quebec, Canada
Axsun is a provider of intermodal and freight brokerage services operating in multiple locations across Canada and the US. It provides an integrated mix of intermodal services as well as over-the-road highway, drayage, logistics, and warehousing on a primarily asset-light basis. Axsun is based in St Hubert, Quebec.

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Buyer(S) 1

Buyer

TFI International

Saint-Laurent, Quebec, Canada
Category Company
Founded 1957
Sector Transportation
Employees25,005
Revenue 7.5B USD (2023)
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 was incorporated in is based in Saint-Laurent, Quebec.

DEAL STATS #
Overall 29 of 35
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 20 of 26
State (Quebec) 3 of 3
Country (Canada) 16 of 19
Year (2023) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-22 TFI International - Contract Freighters Truckload Business

United States

TFI International's Contract Freighters Truckload Business provides dry van and temperature-controlled truckload services.

Sell $525M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 Siemens Transportation Group

Saskatoon, Saskatchewan, Canada

Siemens Transportation Group is a transportation company, that consists of 7 different trucking division - each one unique yet firmly grounded in the STG family. These divisions range from international truckload, Less Than Truckload, International Flat Deck, Ground Courier and Warehouse Distribution services. Siemens Transportation Group was founded in 1962 and is based in Saskatoon, Saskatchewan.

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