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Titanium adds US brokerage office in Denver

Canadian firm pushes ahead with asset-light growth in American market

Titanium Transportation Group is seeking to tap into Colorado's growth with its latest U.S. brokerage office. (Photo: Jim Allen/FreightWaves)

Titanium Transportation Group has opened its fourth U.S. freight brokerage office, in Denver, the Canadian trucking and logistics firm said on Thursday as it pushed ahead with an increasingly key source of growth. 

“Colorado is an attractive market opportunity,” CEO Ted Daniel said in a statement, pointing to the presence of almost 6,000 manufacturers and rapid population growth.

The Denver office joins Titanium’s (TSX-V:TTR) existing brokerages in Charlotte, North Carolina; Nashville, Tennessee; and Chicago.  

The Ontario-based company plans to open at least one more U.S. brokerage location this year. It hopes to have at least 10 in operation by 2024.

Titanium’s U.S. freight brokerage operation has emerged as an important growth driver since it launched in May 2019. The asset-light business brought in nearly CA$40 million ($31 million) in revenue during the second quarter, an increase of 680% from a year ago.  

The U.S. freight brokerages accounted for nearly 40% of Titanium’s revenue during the quarter. They operate separately from the company’s core Canada-based trucking business.

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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]