GTI Transport Solutions Inc has acquired Jetco, a Houston-based transporter providing flatbed, heavy-haul, intermodal, logistics and specialized loads in the United States.
No financial terms were disclosed for the deal, which follows GTI’s acquisition in February of Precision Specialized Division Inc.
GTI, a Dorval, Québec-based provider of open-deck, specialized and over-dimensional freight services, said the Jetco transaction allows it to expand into the United States and create an operational platform there.
The company now has seven locations in the United States and three in Canada.
GTI was acquired in 2014 by the industries group of Canadian mid-market private equity firm Novacap.
GTI Transport Solutions expands into the US by acquiring Jetco
Montreal, May 13, 2019 – Novacap, one of Canada’s leading private equity firms, is proud to announce that its portfolio company GTI Transport Solutions Inc. (“GTI”), a leading provider of open-deck, specialized and over-dimensional freight services has completed the acquisition of Jetco, a Houston-based transporter offering flatbed, heavy-haul, intermodal, logistics, and specialized loads in the Texas region and across the United States. This acquisition allows GTI to establish a strong operational platform in the United States, which will provide GTI with the ability to further strengthen and widen its offering to its customers throughout North America.
The transaction with Jetco follows the acquisition of Precision Specialized Division, a specialized carrier based in Ontario, in February 2019. Through these acquisitions and the brokerage network GTI is currently deploying in the US via GTI USA, GTI is establishing an integrated group focused on specialized transport across North America. With now seven locations in the United States and three in Canada, GTI provides specialized asset-based and non-asset transport solutions to the most demanding clients.
“The team at Jetco is renowned as a market leader in their quality of service and in always prioritizing safety in their transport” says Richard Lafrenière, CEO of GTI. “The strategic strong local presence that Jetco has in Texas will increase GTI’s position in the region and establish a performing North-South corridor with its Canadian operations.”
“This acquisition will also increase GTI’s scale and will deepen our geographic reach,” adds Frédérick Perrault, Senior Partner of Novacap.“ Jetco will complement GTI’s US division with its strong asset base and will serve as our platform for future acquisitions in the US.”
Brian Fielkow, CEO of Jetco, will continue in his current capacity as CEO. Mr. Fielkow adds, “Jetco is glad to join forces with a leader in specialized transport such as GTI and we are looking forward to start working together to bring the company to the next level.”
GTI Transport Solutions (“GTI”) specializes in open-deck, heavy haul and over dimensional transportation services while also offering specialty storage, logistics and freight forwarding services. GTI has fully equipped transportation terminals in Quebec and Ontario and 300,000 sq.ft. of specialized warehousing. For further information, visit www.thegtigroup.com
Established in 1976 with one truck, Jetco has become one of the Gulf Coast’s top diversified carriers, serving small businesses to Fortune 500 companies. We currently operate a fleet of more than 100 trucks and 250+ trailers, and because of our diverse fleet, are able to meet all of your LTL and semi-tractor transportation needs including: shipping containers by rail and sea, flatbeds and dry vans. For further information, visit www.jetcodelivery.com/about-us
Founded in 1981, Novacap is a leading Canadian private equity firm with $2.8 billion of assets under management. Novacap’s unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class companies. For more information, please visit www.novacap.ca.