M&A Deal Summary

TFI International Acquires Hercules Forwarding

On March 11, 2024, TFI International acquired transportation company Hercules Forwarding

Acquisition Highlights
  • This is TFI International’s 30th transaction in the Transportation sector.
  • This is TFI International’s 19th transaction in Canada.
  • This is TFI International’s 3rd transaction in British Columbia.

M&A Deal Summary
Date 2024-03-11
Target Hercules Forwarding
Sector Transportation
Buyer(s) TFI International
Deal Type Add-on Acquisition

Target

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.

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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 35 of 35
Sector (Transportation) 30 of 30
Type (Add-on Acquisition) 26 of 26
State (British Columbia) 3 of 3
Country (Canada) 19 of 19
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-22 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.

Buy $1.1B
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