Fenway completes Fastfrate acquisition
Private equity company Fenway Partners said it has completed its acquisition of Fastfrate Inc., Canada Drayage Inc., and Koch Transport after receiving approval by Canadian regulatory authorities, including the Federal Minister of Industry, under the Investment Canada Act.
New York-based Fenway also said earlier this month that it has acquired a majority interest in East Coast Warehouse and Distribution Corp., a leading warehouse company in the Port of New York and New Jersey.
Other Fenway logistics investments include: expedited ground trucking company Panther Expedited Services, drayage company RoadLink USA, and a minority share in Greatwide Logistics.
Altogether Fenway has completed 26 deals in the logistics sector worth $2.26 billion, excluding the Fastfrate acquisition, according to company officials.
Fastfrate is a privately owned Canadian less-than-truckload carrier that also offers intermodal, truckload, warehousing, transloading, national port and railhead drayage, and logistics services. It has nearly 1,600 employees and annually moves 2 billion tons of freight through its piece shipment network.