Titanium Transportation Group on Monday acquired Crane Transport, full truckload service provider based in a Oakwood, Georgia, for $59 million. It is Ontario, Canada-based Titanium’s first U.S.-based asset acquisition.
Bundled in the deal are Crane Transport's assets, equipment and real estate, including the head office terminal in Georgia and a satellite terminal in Alabama.
"The addition of Crane Transport’s full truckload business is highly synergistic within our existing network, immediately adding capacity and valuable new customer relationships," said Titanium Transportation Group CEO Ted Daniel. "The acquisition will allow us to expand our presence across the United States through our new strategically located terminals in Georgia and Alabama, expanding our service offerings and enabling us to offer a wide range of services including end-to-end supply chain and freight management solutions to our existing customers.”
The addition of Crane Transport, Daniel added, expands Titanium’s current presence in Georgia and adds Alabama to its growing U.S. footprint, Daniel said, positioning the company to enhance its service offerings with Titanium branded trucks in a major U.S. transportation hub.
"I am pleased to have the Crane team join the Titanium family, I feel the business and culture of Titanium is a perfect fit for our group moving forward," said Danny Crane, founder and CEO of Crane Transport. "I am confident that Titanium’s strong platform and growth strategy will be a perfect fit for Crane. Their focus on innovation and technology, as well as culture will provide opportunities of growth for our employees, while continuing to deliver reliable service to customers, every mile of the way.”
Titanium last week secured a strategic brokerage office location in Jacksonville, Florida, marking the company’s seventh location in the U.S. brokerage services business and hopes to have 10 U.S. locations by the end of 2024.