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NewswireTODAY - /newswire/ -
Laguna Hills, CA, United States, 2013/01/15 - On December 20, 2012, Transplace, LLC acquired Torus Freight Systems in a private transaction. The terms were not disclosed. Doug Nix of CFA Toronto advised in the transaction - CFAW.com.
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Corporate Finance Associates (CFA), an international investment banking services firm providing merger and acquisition, business valuation, capital resource and financial advisory services, announced that it was the exclusive advisor to Torus Freight Systems in its acquisition by Transplace LLC.
Founded in 1982, Torus Freight Systems is a Canadian-based logistics services company focused on Canadian cross-border and intra-Canada freight. Transplace LLC, a leading provider of transportation management services and logistics technology, is a portfolio company of New York-based private equity firm CI Capital Partners. “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. “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. Bringing the Torus team on board allows Transplace to offer more services to existing customers and to serve a new set of customers. This acquisition further supports our commitment and strategic plan to grow Transplace and build a competitive advantage for our company and our customers.”
As one of the top ten freight capacity brokers in the U.S. and a leading provider of 3PL services, Transplace generates revenue in excess of $1.3 billion. Transplace helps its customers manage complex logistics and shipping needs by providing customized 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, said,“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.”
“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, Torus. “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.”
“We are delighted with the outcome of this transaction as there is a strong strategic fit between Transplace and Torus. Torus is a Canadian leader in the freight management industry, with a primary focus on customer service, grounded in the highest ethical standards.” said Douglas Nix, Chairman of CFA’s Transportation and Logistics Industry Group, CFA Managing Director in Toronto, Ontario and lead advisor in the transaction.
About Corporate Finance Associates
Celebrating more than 56 years of service, Corporate Finance Associates (cfaw.com) is a major investment banking firm, with over 20 offices across North America and Canada, 3 in India and 17 partner offices in Brazil, China and throughout Europe providing middle-market companies with a wide range of financial advisory services and access to capital resources. From project inception to completion a senior principal guides clients through every challenge, advocates on their behalf, and leverages CFA's experience and extensive resources.
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