On Monday, logistics company TFI International announced the acquisition of a family-owned LTL carrier with headquarters in California and Canada.
In a March 11 statement, TFI announced the addition of US-to-Canada cross-border transportation company Hercules Forwarding, Inc. to TFI’s LTL business segment.
Terms of the acquisition were not disclosed.
Hercules Forwarding operates 210 trucks and nearly 600 trailers, generating $100 million in revenue annually. The company operates out of 31 terminals.
Hercules president, Marty Burnham and CFO, Melanie Burnham will join the TFI International team.
Family-owned Hercules Forwarding was founded in 1985. The company has headquarters in Vernon, California and New Westminster, B.C.
“This bolt-on acquisition fortifies our US LTL portfolio while adding cross-border LTL into Canada, creating a partner for our Canada-to-US shipments while offering synergy opportunities on both sides of the border,” stated Alain Bédard, Chairman, President, and Chief Executive Officer of TFI International. “Hercules’ impressively low claims ratio and skill at serving multiple premium freight markets moving high-value cargo across the US and Canada aligns well with our focus and operating philosophy. We are pleased to welcome Marty, Melanie, and the entire Hercules team to the TFI International family.”
Late last year, TFI announced the acquisition of flatbed carrier Daseke, Inc. for an enterprise value of $1.1 billion.