Leading third party logistic provider Transplace has acquired Canada’s Torus Freight Systems.
Transplace, a leading provider of transportation management services and logistics technology, acquired for an undisclosed sum Torus Freight Systems, a Canadian-based logistics services company focused on Canadian cross-border and intra-Canada freight.
"Acquiring Torus, a leading Canadian 3PL, continues our expansion through strategic acquisition," said Transplace CEO Tom Sanderson. "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."
Sanderson said Transplace was pleased to add Torus’ expert employees to its workforce and the company’s strong Canadian carrier base to its portfolio because it balances Transplace’s 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 said.
Transplace is one of the nation’s top ten freight capacity brokers in the and a leading provider of 3PL services with more than $1.3 billion in annual revenue.
Since 2009, Transplace has been owned by the private equity firm CI Capital Partners.
"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," said Joost Thesseling, managing director at CI Capital Partners.