TFI International, headquartered in Montreal, Quebec, announced on December 22nd an agreement to acquire Daseke, the largest flatbed and specialized trucking company in North America, for an impressive sum of over 1 billion dollars. This acquisition, marking a major turning point in the transportation industry, positions TFI International as a dominant player in the market, significantly expanding its reach in the specialized trucking sector.
Daseke operates approximately 4,900 tractors, 11,000 flatbed and specialized trailers, and includes the following companies:
- Smokey Point Distributing
- E.W. Wylie
- Central Oregon Truck Company
- Lone Star Transportation
- Bulldog Hiway Express
- Hornady Transportation
- Big Freight Systems
- The Steelman Companies
- The Roadmaster Group
- TSH & Co.
- The Boyd Companies — Boyd Bros. Transportation and WTI Transport
According to Alain Bédard, President and CEO of TFI International, this significant acquisition greatly enriches their current operations and elevates their road transport segment to the rank of a leading transportation and logistics company in North America. Daseke’s deep expertise in serving a wide range of specialized and industrial markets, such as the transportation of high-security cargo, agriculture, manufacturing, and construction, is considered essential in the face of current evolving dynamics in the specialized market. Their immediate goal is to improve Daseke’s financial results, as part of an ongoing strategic approach.
The news of the acquisition by TFI International defies the current economic challenges influencing the trucking sector. “You buy when the news is bad and you sell when it’s good,” says Alain Bédard. “We must not forget that infrastructure, schools, hospitals, roads, and bridges need major investments. This benefits the trucking industry and even more so the flatbed trailer sector.”
In the medium term, this acquisition is expected to generate annual revenues of $3.6 billion USD. The acquisition is expected to be concluded in the second quarter of 2024.
TFI has made 125 acquisitions of trucking and logistics companies in the United States and Canada since 2008.
