Montreal, QC — Equity firm Novacap 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.”