TFI International

Daseke now part of TFI International as acquisition closes

Flatbed operator Daseke ended its history as an independent trucking company Monday when its acquisition by Canada’s TFI International closed for $1.1 billion.

The acquisition by TFI (NYSE: TFII) was announced Dec. 22. The share price for the acquisition was $8.30, after closing at $4.91 on Dec. 21.

Daseke reported revenue of $1.57 billion in 2023. In 2016, revenue was $651.8 million.

The disappearance of Daseke from the list of publicly traded carriers follows that of such companies as U.S. Xpress

https://www.freightwaves.com/news/daseke-now-part-of-tfi-international-as-acquisition-closes

TFI acquires LTL carrier Hercules Forwarding

TFI International announced the acquisition of less-than-truckload carrier Hercules Forwarding Monday after the market closed.

Hercules operates a 31-terminal network throughout the U.S. and Canada, focusing on intra-U.S. and U.S.-to-Canada shipments. The company has more than 210 trucks, nearly 600 trailers and approximately 75 containers, generating revenue of more than $100 million annually.

The nearly 40-year-old company has two headquarters: Vernon, California, and New Westminster, British...

https://www.freightwaves.com/news/tfi-acquires-ltl-carrier-hercules-forwarding

TFI International seeks to spin off Daseke in 2025

TFI International seeks to spin off flatbed carrier Daseke in 2025

(Photo: Jim Allen/FreightWaves)

Canadian transport and logistics provider TFI International announced on its Q4 earnings call plans to spin off Daseke as a separate company sometime in 2025. Daseke has a fleet of around 4,500 tractors and 11,000 flatbed and specialized trailers and is the largest flatbed provider in North America. Describing the strategy that began with TFI acquiring Daseke in December 2023, Colin Campell of...

https://www.freightwaves.com/news/tfi-international-seeks-to-spin-off-daseke-in-2025

TFI beats earnings estimates, US LTL a work in progress

Transport and logistics company TFI International Inc. posted fourth-quarter adjusted earnings of $1.71 per diluted share, a 4-cent-per-diluted-share beat from consensus estimates. Alain Bédard, the company’s chairman, president and CEO, told analysts that he expects full-year earnings per share to exceed $7 per diluted share on an organic basis, bettering 2023’s $6.18 per share but below 2022’s $8.02 per diluted share.

On an analyst call Friday morning, Bédard said the turnaround at...

https://www.freightwaves.com/news/tfi-beats-earnings-estimates-us-ltl-a-work-in-progress

Labor 2023: A lot of noise but few strikes

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For all the hand-wringing about the potential for labor disturbances across multiple modes, the year...

https://www.freightwaves.com/news/labor-2023-a-lot-of-noise-but-few-strikes

TFI buying Daseke for $1.1B, contemplating spinoff of truckload unit

Serial acquirer TFI International announced Friday it will buy flatbed truckload carrier Daseke in a $1.1 billion transaction. TFI also said it’s exploring spinning off its TL unit into a separate publicly traded company.

TFI (NYSE: TFII) will pay $8.30 per share for Daseke (NASDAQ: DSKE), a 69% premium to Thursday’s closing price of $4.91. The price tag values Daseke’s equity at nearly $400 million, with the remainder tied to a $658 million debt load. If completed, the deal would be executed at...

https://www.freightwaves.com/news/tfi-buying-daseke-for-1-1b-contemplating-spinoff-of-truckload-unit

TFI subsidiaries hit with EEOC lawsuit over gay workers

In often graphic language, the Equal Employment Opportunity Commission (EEOC) has sued two subsidiaries of trucking conglomerate TFI International over what it said was discriminatory treatment of two gay maintenance employees who worked in Ohio.

The suit, filed in the U.S. District Court for the Northern District of Ohio on Sept. 15, lists TA Dedicated and TForce TL Holdings as defendants. TA Dedicated is a specialized truckload carrier, doing business as Transport America. TForce TL is an LTL...

https://www.freightwaves.com/news/tfi-subsidiaries-hit-with-eeoc-lawsuit-over-gay-workers

TFI International acquires 155-truck tanker carrier in Canada

TFI International Inc. has acquired Vedder Transportation Group, a tanker truck transporter of food-grade liquids and dry bulk commodities with 155 power units and 300 tanker trailers.

Vedder is based in Abbotsford, British Columbia. The acquisition helps TFI establish a Canadian coast-to-coast food-grade tanker truck network, according to Alain Bedard, TFI International’s chairman, president and CEO.

“For many years, TFI International … has been a provider of tank truck services to the liquid...

https://www.freightwaves.com/news/tfi-international-acquires-155-truck-tanker-carrier-in-canada

TFI acquires truck transport provider JHT

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TFI International Inc. said Monday it has acquired JHT Holdings Inc., an asset-light North American...

https://www.freightwaves.com/news/tfi-acquires-truck-transport-provider-jht

TFI seeing shipment influx in wake of Yellow’s demise

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The head of international transport and logistics company TFI International (NYSE: TFII) said...

https://www.freightwaves.com/news/tfi-seeing-shipment-influx-in-wake-of-yellows-demise

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