Titanium acquires Xpress Group
BOLTON, ON - Titanium Transportation Group has acquired Xpress Group, a van and flatbed carrier based near Windsor, Ontario. The deal is worth $3.1 million in cash, $420,000 in common shares, and the assumption of about $5.2 million in debt. "This is exactly the type of acquisition we have been waiting for," said Ted Daniel, Chief Executive Officer of Titanium. We expect to be able to achieve significant synergies between Titanium and Xpress. In addition, Xpress' customer base complements the cross-border, full truckload division that we have focused on growing."