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Be the first with the news that moves the market- TFI International (TFII) acquired Axsun Group, a North American provider of inter-modal and freight brokerage services
- Founded and led by President and CEO Steve Ramescu, Axsun operates a small fleet of approximately 20 tractors and 300 trailers, generating annualized revenues of approximately C$90 million
- TFI International Inc. is a North American leader in the transportation and logistics industry, operating across the United States and Canada
- TFI International Inc. (TFII) opened trading at $169.63 per share
TFI International (TFII) has acquired Axsun Group, a North American provider of inter-modal and freight brokerage services.
Montreal-based Axsun operates out of multiple locations across Canada and the US, providing an integrated mix of inter-modal services as well as over-the-road highway, drayage, logistics and warehousing on a primarily asset-light basis.
Founded and led by President and CEO Steve Ramescu, Axsun operates a small fleet of approximately 20 tractors and 300 trailers, generating annualized revenues of approximately C$90 million.
Despite the acquisition, Ramescu will continue to run the business as part of TFI International’s logistics segment, reporting to TFI Senior Executive Vice-President Steven Brookshaw.
“Axsun is very well-managed and rapidly growing under Steve Ramescu’s leadership, using an asset-light and technologically sophisticated approach to serve a demanding Fortune 100 customer base,” stated Alain Bédard, Chairman, President and Chief Executive Officer of TFI International.
“These impressive characteristics make Axsun a strong strategic fit for TFI International in terms of culture and operating philosophy,” he added.
Details of the terms of the transaction were not made available.
TFI International Inc. is a North American leader in the transportation and logistics industry, operating across the United States and Canada through its subsidiaries.
TFI International Inc. (TFII) opened trading at $169.63 per share.
