Fastfrate Group is acquiring ASL Distribution Services for an undisclosed sum, adding to a recent frenzy of mergers and acquisitions in Canada’s trucking industry.
The deal, which includes all operating entities, is expected to add $120 million to Fastfrate Group revenue this year.
The acquisition gives Fastfrate 13 new terminals and Final Mile hubs in Ontario, Quebec, Manitoba, and New York, and opens the door to e-commerce activities.
ASL’s home and office Final Mile delivery division completes about 2 million deliveries per month.
“ASL already has the technology and the processes in place to fulfill the needs of Fortune 100 companies in the e-commerce space,” said Fastfrate president and CEO Manny Calandrino. “By integrating this into Fastfrate’s national infrastructure and providing our substantial account-base with an enhanced service offering, we see tremendous opportunity for accelerated, national growth.”
No changes are expected in ASL management, who will continue to run the company.
“Our working relationship dates back over 30 years,” said Cole Dolny, president and CEO of ASL Distribution Services.
“We’ve engaged strategically to utilize the skills and capacities of each organization over the last few decades, to engineer better logistics solutions for our customers. Our similar cultures and long-standing record of protecting and enhancing our customers’ supply chain were important factors in the decision process.”
It’s only the latest in a series of acquisitions by Fastfrate Group. Last year it built on cross-border services by acquiring Bestway, adding to a business that already included Fastfrate, Canada Drayage Inc. (CDI), and Fastfrate Integrated Logistics.
“Whether through partnerships or acquisitions, we are aggressively pursuing further growth avenues,” Fastfrate Group executive chairman Ron Tepper adds.
“Each company in our group brings its own specialization to complement and strengthen every facet of our customers’ supply chain. This latest addition of ASL not only greatly enhances our ability to serve final mile and ecommerce segments but allows both Fastfrate and ASL customers to benefit from a greater national network.”
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