Canadian 3PL acquired by US freight tech firm
Richmond Hill-based 3PL has distribution centres in Toronto and Vancouver
TORONTO and DALLAS—Transportation management services and logistics firm Transplace has acquired Torus Freight Systems, a third-party logistics provider based in Richmond Hill, Ont.
Terms of the transaction were not disclosed.
With distribution centres in Toronto and Vancouver, Torus focused on Canadian cross-border and intra-Canada freight.
In 2011, Transplace acquired SCO Logistics to broaden exposure in chemicals, and added Celtic Intl. for inter-modal expertise.
“Acquiring Torus, a leading Canadian 3PL, continues our expansion through strategic acquisition. Geographic expansion was our goal, and that’s exactly what we have accomplished with this acquisition,” said Transplace CEO Tom Sanderson.
As one of the top ten freight capacity brokers in the U.S. and a provider of 3PL services in its own right, Transplace is owned by private equity firm CI Capital Partners.
“We have a very strong network to meet our customers’ predominantly northbound requirements from all points in the USA to Canada. We also provide southbound service to the USA and domestic service within Canada,” said Angelo LaMantia, president and CEO of Torus.