TFI International has acquired Montreal-based Axsun Group, which serves the intermodal and logistics needs of Fortune 100 customers.
The company operates “multiple” locations across Canada and the U.S., providing intermodal services as well as over-the-road, drayage, logistics and warehousing offerings.
The company was founded by Steve Ramescu and runs about 20 tractors and 300 trailers generating annual revenues of about $90 million. Ramescu will stay on to run the business, which will be a part of TFI’s logistics segment.
“Axsun is very well-managed and rapidly growing under Steve Ramescu’s leadership, using an asset-light and technologically sophisticated approach to serve a demanding Fortune 100 customer base. These impressive characteristics make Axsun a strong strategic fit for TFI International in terms of both culture and operating philosophy,” said Alain Bédard, chairman, president and CEO of TFI International.
“Axsun’s existing business will prove complementary to our service offerings in both Canada and the US, with many of our customers increasingly looking toward intermodal as a solution for their freight movement requirements. We look forward to Axsun’s contributions to our continued growth and emphasis on service quality under the TFI International umbrella, and extend our warmest welcome to Steve and his impressive team.”