GTI Transport Solutions Acquires Foxconn Logistics

The Novacap-backed company is strengthening its offering to customers by enhancing its container transport services through a partnership with Foxconn Logistics.

MONTREAL, April 21, 2022 /PRNewswire/ - GTI Transport Solutions Inc. ("GTI") (www.thegtigroup.com), a leading provider of differentiated, value-added transportation solutions, today announced the acquisition of Foxconn logistics, an asset-light brokerage company (www.foxconnlogistics.com). Based in Nashville, Tennessee, Foxconn logistics is a non-asset contract brokerage specialized in container management and drayage within intermodal logistics, with a strong presence in US ports across the eastern, southern, and western seaboards.  

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, specialized warehousing and freight forwarding, as well as specialized flatbed, heavy haul, high-value, and oversized transportation services.

''The intricacies of container and transportation management can be complex for our clients. Foxconn's integration into GTI USA enhances our managed transportation services offering and provides increased value to customers," said Kent Jordan, president of GTI USA.''

"I was impressed with Foxconn's culture of performance, growth and excellence, as well as their strong list of blue-chip customers in the United States", said Richard Lafrenière, President & Chief Executive Officer at GTI. '' This partnership will allow GTI to complement the current service offering to Foxconn's customers. Similarly, GTI's customers will benefit from Foxconn's expertise in container transportation which can be greatly leveraged in the current environment."

"By becoming part of GTI USA, we will have additional resources to support our teams who have established deep relationships with our customers. Today, we can quickly gain a larger share of wallet by offering a complete value-added solution for all their freight and logistics needs." adds Vincent Burch, Co-Founder Foxconn Logistics.

''This is GTI's fourth acquisition in the last four years," said Frederick Perrault, Senior Partner at Novacap, "The team has developed a deep understanding of how to successfully integrate and scale in new verticals and geographies. We are very pleased to welcome the Foxconn team to the GTI family.''

GTI Transport Solutions Inc. ("GTI") focuses on differentiated / value add transportation solutions with a strong asset-light offering including managed transportation, contract brokerage, specialty storage, and freight forwarding, as well as specialized flatbed, heavy haul, high value goods and over dimensional transportation services. For further information, visit www.thegtigroup.com

At Foxconn Logistics, we believe relationships are everything. Headquartered in Spring Hill, Tennessee, we specialize in container management and drayage that supports the movement of ocean freight, rail freight, road freight, long distance, 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 C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in Industries, TMT and Financial Services, Novacap's deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Brossard, Québec and Toronto, Ontario. For more information, please visit www.novacap.ca.

SOURCE Novacap Management Inc.