TFI International (CCJ Top 250, No. 4) has acquired Hercules Forwarding, an LTL carrier with an emphasis on intra-U.S. and U.S.-to-Canada cross-border transportation. Terms of the deal were not disclosed.
Founded in 1985 and family-owned with U.S. headquarters in Vernon, California, and Canadian headquarters in New Westminster, BC, Hercules utilizes a 31-terminal network and operates more than 210 trucks, close to 600 trailers and approximately 75 containers, generating more than U.S. $100 million in annual revenues.
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“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, TFI president and CEO. “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.
Hercules’ non-union team focuses on direct shipper customers seeking high-quality, damage-free service across diverse end markets including consumer/retail, HVAC/building products, automotive, industrial, 3PL and food/beverage. Led by President Marty Burnham and CFO Melanie Burnham, Hercules will join TFI’s LTL business segment.
TFI has been in growth mode since last year, having acquired Daseke for approximately $1.1 billion, including its fleet of approximately 4,500 tractors and 11,000 flatbed and specialized trailers, and a million-plus square feet of industrial warehousing space. Also last year, TFI acquired British Columbia-based food grade liquids and dry bulk commodity hauler Vedder Transportation Group, and JHT Holdings, an asset light logistics and transportation provider based in Wisconsin that transports new trucks from manufacturing and final assembly plants to dealers and end customers.
