TFI International Profile
TFI International Inc., through its wholly-owned subsidiaries, operates a transportation business.
The company has carried out its strategic plan, in large part by acquiring profitable and well-managed companies offering services throughout North America in segments of the transportation industry not traditionally served by the company, such as Package and Courier, Truckload (‘TL’), Waste Management and Logistics.
The company is a leading player in the North American transportation and logistics industry. The company offers its clients transportation solutions that are firmly supported by the specialization of its subsidiaries and the competence of its management and employees in their areas of expertise. The company operates the following reportable segments: Package and Courier; LTL; TL; and Logistics.
The Package and Courier segment offers pickup, transport and delivery of items across Canada and the United States. The LTL segment provides pickup, consolidation, transport and delivery of smaller loads. The TL segment provides full loads carried directly from the customer to the destination using a closed van or specialized equipment to meet customers’ specific needs. The TL segment includes expedited transportation, flatbed, tank container and dedicated services, as well as TL brokerage. The Logistics segment provides a wide range of asset-light logistics services, including brokerage, freight forwarding and transportation management, as well as small parcel delivery.
Equipment
The company has the largest trucking fleet in Canada and a significant presence in the United States. As of December 31, 2022, the company had 11,442. Tractors; 38,091 trailers; and 6,905 independent contractors.
Markets and Distribution
The company has a diverse base of clients operating across a broad cross-section of industries. The company has strategic alliances with other transport companies in North America, in order to offer its customers a network extending across Canada and the United States.
Seasonality of Operations
The activities conducted by the company are subject to general demand for freight transportation. Historically, demand has been relatively stable with the first quarter (year ended December 2022) being generally the weakest in terms of demand. Furthermore, during the harsh winter months, fuel consumption and maintenance costs tend to rise.
Competition
The company’s main competitors are: in the Package and Courier sector, Purolator, UPS and Fedex; in the LTL sector, Old Dominion, SAIA, Arcbest, Yellow and XPO (in the United States), Mullen and Manitoulin Transport Inc. (in Canada); in the TL sector, Trimac Transportation, Challenger Motor Freight, and Bison Transport (in Canada) and Knight-Swift Transportation Holdings Inc., Werner Enterprise, Inc. Schneider National, Inc. and Heniff Transportation Systems (in the United States); and in the Logistics sector C.H. Robinson Worldwide, Inc., Lasership, OnTrac Shipping and Echo Global Logistics.
Trademarks
The company had a total of 113 applied-for or registered trademarks in Canada and the United States as of December 31, 2022, of which 83 are for use in Canada and 30 are for use in the United States. Of the foregoing trademarks, the most important are: ‘TFI International’, ‘TransForce’ and ‘a TransForce Company’ in Canada and ‘a TFI International Company’ in Canada and the United States; ‘Kingsway’ in Canada; ‘TST’ family of trademarks in Canada; ‘Quik X’ family of trademarks in Canada and the United States; ‘ICS Courier’ in Canada; (vi) ‘Canpar’ family of trademarks, including ‘Canpar Courier’, in Canada; ‘TForce’ family of trademarks in Canada and the United States, including ‘TForce Freight’; ‘Loomis Express’ in Canada; ‘TF Dedicated’ in the United States; ‘Vitran’ family of trademarks in Canada and the United States, including ‘Vitran Express’; ‘Contrans’ in Canada; and ‘Canadian Freightways’ family of trademarks in Canada. In addition, the company uses a number of unregistered trademarks.
Acquisitions
During the year ended December 31, 2022, the company made the following non-significant acquisitions: Unity Courier Service, Inc.; South Shore Transportation; Premium Ventures Inc; Cedar Creek Express LLC & DDW Transportation, LLC; Transport St-Amour; Ho-Ro Trucking Company; Transport St-Michel Inc.; Transport Boutin Inc.; LLL Holdings Inc. (Girton); Quevrac Ltee; and T-Lane Transportation Inc.
Dispositions
In August 2022, the company disposed of Transportation Resources, Inc., the parent company of CFI’s Truckload, Temp Control and Mexican Logistics Businesses (the ‘CFI Business’). The CFI Business operated primarily in the U.S.-based Conventional TL operating segment of TFI’s Truckload segment and provided comprehensive truckload service offerings, including time definite dry-van truckload, long-haul and short-haul freight transportation, reefer transportation and Mexico-based non-asset logistics services. The disposition of the CFI Business resulted in the exiting of TFI from the Mexican market.
History
The company was founded in 1957. It was formerly known as TransForce Inc. and changed its name to TFI International Inc. in 2016.
