TFI International Acquires Siemens Transportation Group and Hot Line Freight Systems
May 1, 2023
TFI International announced it has agreed to acquire Siemens Transportation Group (STG) and has completed the acquisition of Hot Line Freight Systems to expand its Less-Than-Truckload (LTL) footprint across Canada and the United States. STG, a family-owned Saskatoon-based LTL operator with roughly C$150 million in annual revenue and 15 terminals, will remain managed by Doug Siemens; Hot Line, a Wisconsin-based specialized LTL provider with nearly 200 employees and 14 terminals, will be managed by Paul Burgmeier under TFI's LTL segment.
- Buyers
- TFI International Inc.
- Targets
- Siemens Transportation Group, Hot Line Freight Systems
- Sellers
- Siemens family
- Industry
- Transportation
- Transaction Type
- Buyout
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