TFI International (NYSE:TFII) has once again proven it has a seemingly insatiable appetite for trucking and logistics companies, buying a small Canadian carrier, Procam International, as it works to integrate UPS Freight into its expansive portfolio.
TFI acquired Procam in early June to expand its network, company spokesperson Julie Coutu told FreightWaves in an email. Based in the Montreal suburb of Laval, the 33-year-old Procam is a less-than-truckload, specialized truckload, third-party logistics and warehousing provider.
Likely owing to Procam’s small size, TFI did not formally announce the acquisition in a press release. The acknowledgment came in a short LinkedIn post last week to “announce our recent addition to the TFI family.”
It’s not clear how big Procam’s fleet is. According to its website, the carrier serves Quebec, Ontario, Newfoundland and Labrador, and the United States.
Coutu declined to provide details about the deal, including the price. She characterized the acquisition as “very minor.”
It comes six weeks after TFI closed its $800 million acquisition of UPS Freight. In February, the company acquired Ontario-based truckload and heavy haul carrier Fleetway Transport.
Montreal-based TFI is Canada’s largest trucking and logistics company. The largest share of its revenue now comes from the U.S. thanks to the UPS Freight deal.
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nonya
Wonder if TFI will maintain the double brokering standard that Mario @ Procam has had.