CI Capital’s Transplace acquires Torus Freight Systems
CI Capital portfolio company Transplace, a provider of transportation management services and logistics technology, has acquired Torus Freight Systems, a Canadian-based logistics services company focused on Canadian cross-border and intra-Canada freight.
Torus was represented by Corporate Finance Associates. Terms of the transaction have not been disclosed.
“Acquiring Torus, a leading Canadian 3PL, continues our expansion through strategic acquisition. 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,” says Transplace chief executive Tom Sanderson. “We are pleased to add Torus’ expert employees to our workforce and their strong Canadian carrier base to our portfolio, and it also perfectly balances our strong presence in Mexico.
As one of the top ten freight capacity brokers in the US and a provider of 3PL services, Transplace generates revenue in excess of USD1.3bn. Owned by CI Capital Partners since 2009, Transplace helps its customers manage complex logistics and shipping needs by providing customised solutions through a proprietary web-based TMS platform. The company provides full transportation outsourcing, carrier contracting and negotiation, and intermodal and freight brokerage services to a diverse blue chip customer base.
Joost Thesseling, managing director at CI Capital Partners, says: “The acquisition of Torus is an important step in Transplace’s strategy of complementing its strong organic growth with selective, strategic acquisitions. 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.”
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