TFI International Inc. (CCJ Top 250, No. 4) has agreed to acquire Siemens Transportation Group (STG) and has completed the acquisition of Hot Line Freight Systems. Terms of the transactions were not disclosed.
Founded in 1962, the majority of STG’s operations are LTL, with a smaller portion of its business in truckload and flatbed. Based in Saskatoon, Saskatchewan, STG is a family-owned business spanning North America through its 15 terminals – including 11 in Canada and 4 in the U.S. – generating annual revenues of approximately $112 million.
STG’s Doug Siemens will continue to manage the business as part of TFI’s LessThan-Truckload segment, reporting to Executive Vice President Chris Traikos. The transaction is subject to regulatory approval.
Hot Line, a specialized LTL provider based in Wisconsin, was founded in 1988. The company’s nearly 200 employees operate a network of 14 terminals (8 of which are owned), generating approximately $30 million in annual revenue. With a strong focus on expedited one- to two-day LTL service across the Midwest, as well as a nationwide over-the-road division concentrating on high-value and white glove freight, Hot Line is renowned for its exceptional customer service.
Hot Line’s Paul Burgmeier will continue to manage the business as part of TFI’s LTL segment, reporting to Executive Vice President Rick Hashie.
“We are pleased to be expanding our LTL footprint in both Canada and the U.S. with these two LTL acquisitions,” said Alain Bédard, Chairman, President, and CEO of TFI International. “STG’s impressive family-run approach has attracted a loyal customer base across diverse industries, and its compelling geographic presence and well-maintained equipment strategically complement our growing network. Hot Line is another highly attractive acquisition with well-run operations and a strong presence in the midwestern U.S. that will further bolster our LTL presence while allowing us to ramp its cross-border business. We are thrilled to welcome Doug, Paul and their impressive teams to our growing family of companies and look forward to watching both STG and Hot Line succeed under the TFI International umbrella.”
TFI's acquisitions are at least the sixth and seventh acquisitions made this year by a CCJ Top 250 fleet. Forward Air Corporation (No. 57) in January agreed to acquire full-service expedited LTL carrier Land Air Express for $56.5 million and R.E. Garrison Trucking (No. 124) completed the acquisition of certain assets of Boaty’s Transport. In March, Big G Express (No. 173) acquired RTR Transportation and Knight-Swift Transportation (No. 5) announced its acquisition of U.S. Xpress (No. 19). Last month, Trimac (No. 64) acquired American Industrial Partners Logistics.