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Be the first with the news that moves the market- Following a deal signed in mid-September, TFI International (TFII) has completed its acquisition of DLS Worldwide for roughly C$295 million
- Based in Bolingbrook, Illinois, DLS offers logistics services through a third-party network of internal sales personnel and commissioned agents
- Over a recent 12-month period, DLS generated approximately $721 million in revenue and is expected to bolster TFI’s US capabilities
- The business will operate as a standalone entity within TFI’s current logistics segment under the new name TForce Worldwide Inc.
- TFI International (TFII) is currently up 0.92 per cent to $61.70 per share
Following a deal signed in mid-September, TFI International (TFII) has completed its acquisition of DLS Worldwide for roughly C$295 million.
Established in 2006 and based in Bolingbrook, Illinois, DLS offers logistics services through a third-party network of internal sales personnel, commissioned sales agents and around 140 agent-stations.
Its primary modes of transport include less-than-truckload, truckload, freight forwarding, expedited, parcel and intermodal.
Over a recent 12-month period, DLS generated approximately $721 million in revenue and is expected to bolster TFI’s US-based capabilities. TFI also anticipates the acquired operations to result in roughly $29.5 million in operating income during the next four quarters, before potential synergies are realised.
Earlier this year, Alain Bédard, Chairman, President and CEO of TFI International, said said he was looking forward to welcoming DLS to the TFI family.
“The asset-light model of the DLS business will expand our reach through a significant agent station network and represent a compelling opportunity as our first major US logistics operation focused primarily on LTL.
“We look forward to supporting the continued growth of the DLS business as part of the TFI family of companies,” he added.
With the acquisition now complete, DLS will operate as a standalone entity within TFI’s existing logistics segment under the new name TForce Worldwide Inc.
The purchase follows TFI’s separate acquisition of Grammer Logistics’s dry bulk business in early October. The business primarily transports cement, cement materials, sand, fly ash, salt and lime, and generates approximately $15.9 million in annual revenue.
TFI International (TFII) is currently up 0.92 per cent to $61.70 per share at 11:00am EST.
