TORONTO, Ont. – Consolidated Fastfrate is once again 100% Canadian owned and operated, the company announced today.
According to Ron Tepper, founder and CEO of Tepper Holdings and chairman and CEO of Consolidated Fastfrate, THI has acquired the outstanding Fastfrate shares held by the New York based private equity firm, Fenway Partners.
Included in the shares acquired are companies Canada Drayage (CDI), Fastfrate Integrated Logistics and Consolidated Fastfrate.
“We have come full circle,” Tepper said. “We sold 75% of the company to Fenway in December 07 and have now bought back those shares in two installments in March 2013 and September 2017…I am very proud it is back in Canadian hands. I am grateful to the 1,500 people employed by Fastfrate and the extreme hard work, through some very trying times to make this purchase possible.”
CDI is the only national drayage company in Canada and serves all ports from Vancouver to Halifax. It employs a total of 400 drayage drivers and is currently experiencing fast paced growth at approximately 100 drivers per year.