TFI International has purchased Axsun Group, a fellow Canada-based business that provides intermodal and freight brokerage services, the companies announced Tuesday.
Axsun’s existing businesses of intermodal services, over-the-road highway, drayage, logistics and warehousing complements TFI’s operations across Canada and the U.S., Alain Bédard, chairman, president and CEO of TFI, said in a press release.
Axsun’s U.S. operations are based in California, Illinois and New Jersey.
Bédard credited Axsun’s growth to company CEO Steve Ramescu, saying the company was well-managed through its use of minimal assets and adaption of technology. Ramescu and other executives will remain with the acquired company and manage its daily operations.
The addition of Axsun brings 20 tractors and 300 trailers to TFI.
Expansion through acquisition has been a longtime strategy at TFI. The company has purchased 111 businesses across the U.S. and Canada since 2008, according to its website.
TFI acquired UPS Freight from UPS for $800 million in 2021.