Canada Cartage has acquired Rapid Delivery, a Canadian trucking company specializing in dedicated domestic and cross-border dedicated freight services.
The deal, announced Thursday, adds around 20 power units and two Ontario terminals — in London and Windsor. It marks the fourth acquisition in 2021 for Canada Cartage, one of the largest trucking and logistics companies in Canada.
Ontario-based Rapid Delivery primarily serves industrial customers in Ontario, Michigan, and Ohio. It amounts to a small tuck-in acquisition for Canada Cartage, a leading provider of dedicated trucking services in Canada.
Canada Cartage President and CEO Jeff Lindsay said the company plans to help Rapid Delivery grow its business in Ontario and the northeast U.S.
"Rapid has a very solid customer base, many long-term staff and drivers, and an outstanding safety record," Lindsay said in a statement. "We're confident that our combined services will help both their customers and ours to enjoy enhanced transportation and logistics solutions."
Toronto-based Left Lane Associates acted on behalf of both Canada Cartage and Rapid Delivery for the transaction. The price and terms of the deal were not disclosed.
"We're excited about the growth potential for Rapid Delivery under Canada Cartage," Left Lane Associates Managing Partner Peter Stefanovich told FreightWaves.
Based in the Toronto area, Canada Cartage has Canada's seventh-largest trucking fleet with over 2,800 tractors and more than 1,000 owner-operators, according to Today's Trucking Top 100 list.
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