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Canada's GTI Buys Jetco, Growing U.S. Foothold

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Canada's GTI Buys Jetco, Growing U.S. Foothold

GTI Transport Solutions has acquired Jetco Delivery, growing the Canadian specialty carrier's presence in the U.S. with the Texas-based company's flat-bed and heavy-haul fleet.

Montreal-based GTI, owned by Canadian private equity firm Novacap, announced the deal on May 13. It gives GTI a Houston-based fleet of more than 100 trucks and a brokerage operation.

"The strategic strong local presence that Jetco has in Texas will increase GTI's position in the region and establish a performing North-South corridor with its Canadian operations," GTO CEO Richard Lafrenière said in a statement.

"The strategic strong local presence that Jetco has in Texas will increase GTI's position in the region and establish a performing North-South corridor with its Canadian operations."

GTO CEO Richard Lafrenière

Brian Fielkow will remain CEO of Jetco, which he purchased in 2006.

"Jetco is glad to join forces with a leader in specialized transport such as GTI and we are looking forward to start working together to bring the company to the next level," Fielkow said.   

Entrepreneur magazine recognized Jetco on its 2018 Entrepreneur 360 List of small businesses in the United States. It rates firms based on growth, impact, innovation, leadership and business valuation. Entrepreneur listed Jetco with compound annual growth rates of 36 percent revenue and 13 percent profits.

Jetco adds to GTI's existing U.S. division, which includes offices in Iowa and Ohio. It will also serve as a base for future U.S. acquisitions, stated Frédérick Perrault, Senior Partner of Novacap.

GTI acquired Ontario-based Precision Specialised from Precision Truck Lines in February, expanding its Canadian specialty business.

GTI specializes in heavy-haul, open-deck and over-dimensional transportation. It offers freight and logistics services covering Canada, the U.S. and Mexico and operates two terminals in Quebec and Ontario.

The post Canada's GTI buys Jetco, growing U.S. foothold appeared first on FreightWaves.

Image sourced from Pixabay

Posted-In: acquisition Canada Freight FreightwavesNews Global Markets General

 

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