DALLAS -- (BUSINESS WIRE) -- Transplace, a leading provider of transportation management services and logistics technology, today 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. “We are pleased to add Torus’ expert employees to our workforce and their strong Canadian carrier base to our portfolio, and it also perfectly balances our 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. This acquisition further supports our commitment and strategic plan to grow Transplace and build a competitive advantage for our company and our customers.”
As one of the top ten freight capacity brokers in the U.S. and a leading provider of 3PL services, Transplace generates revenue in excess of $1.3 billion. Owned by CI Capital Partners since 2009, Transplace helps its customers manage complex logistics and shipping needs by providing customized solutions through 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 blue chip customer base.
Joost Thesseling, managing director at CI Capital Partners, said, “The acquisition of Torus is an important step in Transplace’s strategy of complementing its strong organic growth with selective, strategic acquisitions. Torus is a great addition to the Transplace portfolio, and we are excited to support Tom Sanderson and the rest of the Transplace management team in building the business across North America.”
"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. It is a privilege to have the opportunity to work with logistics leaders such as Tom Sanderson, George Abernathy and Rich Hyland as they grow into additional North American geographical areas.”
About CI Capital Partners
CI Capital Partners LLC is a New York-based private equity firm. Current CI Capital Partners portfolio companies include American Residential Services, a leading provider of HVAC and plumbing services; Prodigy Health Group, a rapidly expanding health care services company; Ply Gem Industries, one of the largest North American manufacturers of residential siding and windows; KIK Custom Products, the largest North American contract manufacturer of branded and retailer-branded consumer products; Conney Safety Products, a full-service distributor of safety products; and A-T Solutions, a national security and counter terrorism services company led by the former executives and board of directors of Anteon Corporation. To learn more about CI Capital Partners, please visit www.cicapllc.com.
Transplace is a North American non asset-based third party logistics (3PL) provider offering manufacturers, retailers, chemical and consumer packaged goods companies the optimal blend of logistics technology and transportation management services. We provide a comprehensive mix of transportation management and technology services including supply chain consulting and execution ranging from end-to-end logistics outsourcing to intermodal, freight brokerage and SaaS TMS. Transplace has proven the ability to deliver both rapid return on investment and consistent value to customers. The company is recognized among the elite global 3PLs by a customer base that includes many of the largest shippers in the world. To learn more about Transplace, please visit www.transplace.com.