GTI Transport Solutions acquires Foxconn Logistics
The acquisition strengthens GTI’s focus on the north-south corridor between Montreal and Texas and complements its extensive value-added service offering, which includes managed transportation, container management, drayage, contract brokerage, specialty warehousing and freight forwarding, as well as specialty flatbed transportation services, heavy, high-value and oversized transport vehicles.
”The intricacies of container management and transportation can be complex for our customers. Foxconn integration in GTI UNITED STATES enhances our managed transportation service offering and delivers increased value to customers,” said Kent Jordanpresident of GTI UNITED STATES.”
“I have been impressed with Foxconn’s culture of performance, growth and excellence, as well as its strong list of blue-chip customers in United States“, said Richard Lafrenière, President and CEO of GTI. “This partnership will allow GTI to complement the current service offering to Foxconn customers. in container shipping which can be greatly leveraged in today’s environment.”
“By becoming a member of GTI UNITED STATES, we will have additional resources to support our teams who have built deep relationships with our customers. Today, we can quickly gain a greater share of wallet by offering a complete value-added solution for all their freight and logistics needs.” Vincent Bourchco-founder of Foxconn Logistics.
“This is GTI’s fourth acquisition in the last four years,” said Frederick PerraultSenior Partner at Novacap, “The team has developed a deep understanding of how to successfully integrate and scale into new verticals and geographies. We are very happy to welcome the Foxconn team to the GTI family. »
About GTI Transport Solutions
GTI Transport Solutions Inc. (“GTI”) is focused on differentiated/value-added transportation solutions with a strong light asset offering, including managed transportation, contract brokerage, specialty warehousing and shipping freight, as well as specialized flatbed hauling, heavy hauling, high value cargo and oversized hauling services. For more information visit www.thegtigroup.com
About Foxconn Logistics
At Foxconn Logistics, we believe relationships are everything. Based at Spring Hill, Tennesseewe specialize in container handling and drayage that supports the movement of ocean freight, rail freight, road freight, long-haul and cross-border transportation to Canada and Mexico. For more information visit www.foxconnlogistics.com
Founded in 1981, Novacap is a leading North American private equity firm with over 8 billion Canadian dollars of AUM which has invested in more than 100 platform companies and made more than 150 complementary acquisitions. Applying its sector-based approach since 2007 in industrials, TMT and financial services, Novacap’s deep expertise can accelerate business growth and create long-term value. With experienced and dedicated investment and operating teams and substantial capital, Novacap has the resources and knowledge to help build world-class businesses. Novacap has offices in BrossardQuebec and Toronto, Ontario. For more information, please visit www.novacap.ca.
SOURCE Novacap Management Inc.