Privately-held third party logistics provider Transplace said Thursday it has acquired Torus Freight Systems, a Canadian 3PL specializing in cross-border and intra-Canada freight management.
Ontario-based Torus is the third small acquisition for Transplace in the past two years. Backed by money from its owner, private investment group CI Capital Partners, Transplace last year bought Chicago-based intermodal marketing company Celtic International and Philadelphia chemicals specialist SCO Logistics to gain a presence in those markets, as well as expand its geographic reach.
Transplace is a non-asset based company that selects carriers and optimizes, arranges and manages truck transportation for shippers. It also has a limited international transportation business.
Company officials said the Torus acquisition will give it a full North American service offering, balancing its subsidiary in Mexico.
Transplace generated gross revenue of $1.3 billion and net revenue of $110 million last year, according to Matthew Menner, the company's senior vice president.
"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 and domestic service within Canada," Torus CEO Angelo LaMantia said. "Joining Transplace allows us to give our current customers further reach and scale into all of North America, including Mexico, along with the advantage of Transplace's vertical and mode experience." - Eric Kulisch