TFI International Inc. has announced the blockbuster acquisition of the largest North American flatbed and specialized trucking company for more than a billion dollars.
On December 22, TFI announced that it has agreed to acquire Daseke, Inc. for an enterprise value of $1.1 billion.
Daseke operates approximately 4,900 tractors, 11,000 flatbed and specialized trailers and is made up of the following companies:
- Smokey Point Distributing
- E.W. Wylie
- Central Oregon Truck Company
- Lone Star Transportation
- Bulldog Hiway Express
- Hornady Transportation
- Big Freight Systems
- The Steelman Companies
- The Roadmaster Group
- TSH & Co.
- The Boyd Companies — Boyd Bros. Transportation and WTI Transport
“This attractive acquisition is highly complementary to our existing operations and scales our Truckload segment into a leading North American truckload transportation and logistics business. Daseke’s deep expertise in servicing a broad portfolio of specialized and industrial end markets such as high-security cargo, agriculture, manufacturing, and construction, is critical given the relative strength of specialized market dynamics today. We extend a warm welcome to the Daseke team,” stated Alain Bédard, Chairman, President and Chief Executive Officer of TFI International. “This acquisition also advances our strategic consideration of creating a unique opportunity for shareholders to separately invest in a specialized truckload business and in an LTL, P&C and Logistics business. Our immediate focus will be on improving Daseke’s financial results, with the strategic consideration to follow and be ongoing.”
The acquisition is expected to close during the second quarter of 2024.
TFI has completed 125 trucking and logistics company acquisitions in the U.S. and Canada since 2008.