Add-on Acquisition • Transportation

TFI International Acquires Daseke

On December 22, 2023, TFI International acquired transportation company Daseke for 1.1B USD

Acquisition Context
  • This is TFI International’s 29th transaction in the Transportation sector.
  • This is TFI International’s largest (disclosed) transaction.
  • This is TFI International’s 16th transaction in the United States.
  • This is TFI International’s 4th transaction in Texas.

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M&A Deal Summary

Date December 22, 2023
Target Daseke
Sector Transportation
Buyer(s) TFI International
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) J.P. Morgan Securities (Financial)
Kirkland & Ellis (Legal)

Target Company

Daseke

Addison, Texas, United States
Daseke is a transportation solutions specialist dedicated to servicing challenging industrial end markets. It offers comprehensive, best-in-class services to a diversified portfolio of many of North America’s most respected industrial shippers. Daseke was incorporated in 2008 and is based in Addison, Texas.
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Buyer Overview 1

Buyer

TFI International

Saint-Laurent, Quebec, Canada

Category Company
Founded 1957
Sector Transportation
Employees26,287
Revenue 8.4B USD (2024)
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 Context for Buyer #
Overall 34 of 35
Sector: Transportation 29 of 30
Type: Add-on Acquisition 25 of 26
State: Texas 4 of 4
Country: United States 16 of 16
Year: 2023 6 of 6
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 Vedder

Abbotsford, British Columbia, Canada

Vedder provides tank truck transport of food-grade liquids and dry bulk commodities. Vedder was formed in 1956 and is headquartered in Abbotsford, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-11 Hercules Forwarding

New Westminster, British Columbia, Canada

Hercules Forwarding is a Less-Than-Truckload (LTL) carrier with an emphasis on intra-US and US-to-Canada cross-border transportation. The company utilizes a 31-terminal network and operates more than 210 trucks, close to 600 trailers, and approximately 75 containers. It focuses on direct shipper customers seeking high-quality, damage-free service across diverse end markets including consumer/retail, HVAC/building products, automotive, industrial, 3PL, and food/beverage. Hercules Forwarding was formed in 1985 and is based in New Westminster, British Columbia.

Buy -