Transplace, a provider of transportation management services and logistics technology, announced it has acquired Torus Freight Systems, a Canadian-based logistics services company focused on Canadian cross-border and intra-Canada freight. Torus was represented by Corporate Finance Associates. Terms of the transaction were not disclosed.
“Acquiring Torus, a leading Canadian 3PL, continues our expansion through strategic acquisition. In 2011, Transplace acquired SCO Logistics to broaden our vertical experience in chemicals and joined forces with Celtic International bringing us door-to-door intermodal expertise. Geographic expansion was our goal, and that’s exactly what we have accomplished with this acquisition,” said Transplace CEO Tom Sanderson.
Transplace will add Torus’ expert employees to its workforce and a strong Canadian carrier base to its portfolio. The acquisition will also balance its strong presence in Mexico.
“We are thrilled to have an Ontario office to better serve our customers. Bringing the Torus team on board allows Transplace to offer more services to existing customers and to serve a new set of customers,” Sanderson continued. “This acquisition further supports our commitment and strategic plan to grow Transplace and build a competitive advantage for our company and our customers.”
Transplace generates revenue in excess of $1.3 billion. Owned by CI Capital Partners since 2009, Transplace helps customers manage complex logistics and shipping needs with a proprietary web-based TMS platform. The company provides full transportation outsourcing, carrier contracting and negotiation, and intermodal and freight brokerage services to a diverse customer base.
“We have a very strong network to meet our customers’ predominantly northbound requirements from all points in the USA to Canada. We also provide southbound service to the USA and domestic service within Canada,” said Angelo LaMantia, president and CEO, Torus. “Joining Transplace allows us to give our current customers further reach and scale into all of North America, including Mexico, along with the advantage of Transplace’s vertical and mode experience.”