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Tfi International Acquires Vedder Transportation Group

Sep 05, 2023almost 2 years ago

Acquiring Company

TFI International

Acquired Company

Vedder Transportation Group

MontrealOil And GasLogisticsTransportation

Description

TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced the acquisition of Vedder Transportation Group (“Vedder”) which specializes in the tank truck transport of food grade liquids and dry bulk commodities. Headquartered in Abbotsford, British Columbia where it began operations in 1956, Vedder was one of the first companies in Western Canada to use tanker trucks to transport liquid food grade products, with operations now spanning British Columbia to Manitoba. With more than 155 tractors and nearly 300 trailing units, a food grade wash rack, railcar transload and warehousing, and maintenance and repair facilities, Vedder generates annual revenues in excess of CAD $80 million. Run by President Fred Zweep, Vedder will join TFI International’s Specialized Truckload business segment.

Company Information

Company

TFI International

Location

Montreal, Quebec, Canada

About

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 creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly owned operating subsidiaries. The company is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange under the symbol TFII.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed