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TFI M&A engine keeps purring, acquires Procam

Addition of Montreal-area carrier expands network

TFI International is continuing to make acquisitions even after its UPS Freight deal. (Photo: Jim Allen/FreightWaves)

TFI International (NYSE:TFII) has once again proven it has a seemingly insatiable appetite for trucking and logistics companies, buying a small Canadian carrier, Procam International, as it works to integrate UPS Freight into its expansive portfolio. 

TFI acquired Procam in early June to expand its network, company spokesperson Julie Coutu told FreightWaves in an email. Based in the Montreal suburb of Laval, the 33-year-old Procam is a less-than-truckload, specialized truckload, third-party logistics and warehousing provider.

Likely owing to Procam’s small size, TFI did not formally announce the acquisition in a press release. The acknowledgment came in a short LinkedIn post last week to “announce our recent addition to the TFI family.”

It’s not clear how big Procam’s fleet is. According to its website, the carrier serves Quebec, Ontario, Newfoundland and Labrador, and the United States. 

Coutu declined to provide details about the deal, including the price. She characterized the acquisition as “very minor.” 

It comes six weeks after TFI closed its $800 million acquisition of UPS Freight. In February, the company acquired Ontario-based truckload and heavy haul carrier Fleetway Transport.

Montreal-based TFI is Canada’s largest trucking and logistics company. The largest share of its revenue now comes from the U.S. thanks to the UPS Freight deal.

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Nate Tabak

Nate Tabak is a Toronto-based journalist and producer who covers cybersecurity and cross-border trucking and logistics for FreightWaves. He spent seven years reporting stories in the Balkans and Eastern Europe as a reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley, where he studied the history of American policing. Contact Nate at [email protected]