TFI International adds LTL muscle with Hercules acquisition
TFI International has purchased Hercules Forwarding, an LTL carrier focused on intra-U.S. and U.S. to Canada freight.
The company was founded in 1985, has a U.S. headquarters in Vernon, Calif., and Canadian one in New Westminster, B.C. It runs 31 terminals and operates more than 210 trucks, nearly 600 trailers, and 75 containers, generating more than US$100 million in annual revenues.
“This bolt-on acquisition fortifies our U.S. LTL portfolio while adding cross-border LTL into Canada, creating a partner for our Canada-to-U.S. shipments while offering synergy opportunities on both sides of the border,” said Alain Bédard, chairman, president, and CEO of TFI International.
“Hercules’ impressively low claims ratio and skill at serving multiple premium freight markets moving high-value cargo across the US and Canada aligns well with our focus and operating philosophy.”
The company is run by president Marty Burnham and chief financial officer Melanie Burnham.
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I have to agree with you as a employee of a TFI company driver as it opens other loads that is incorporated with other division in the TFI portfolio and is a bonus for both the company and o/os and drivers in general.
Was doubtful when they bought the company I work for today and it’s all good with me as far as I can see.
A very good move and one that makes sense and do usually like big trucking companies getting bigger. The gov should access all trucking companies with over 1000 units a fee to pay for training new employees or show they have a good training program and a program to provide parking for their trucks both at home base and on the road through either pay for parking when drivers request it or other terminal locations