Toronto-based Fastfrate Group introduced that it has accomplished its acquisition of freight forwarding and customs brokerage agency Omnitrans, Inc.
Fastfrate is certainly one of Canada’s largest privately held transportation and logistics suppliers, working 46 places throughout North America. It supplies intermodal, trucking, drayage and parcel supply companies.
The deal expands Fastfrate’s service providing to incorporate 230 international commerce lanes, serving to clients transfer freight between Asia and North America. The corporate now presents end-to-end transportation and logistics companies from worldwide origin to final-mile supply.
Monetary phrases of the transaction weren’t offered.
Headquartered in Montreal, Omnitrans is a licensed Canadian and U.S. customs dealer with workplaces in China. The deal contains its subsidiaries—Metro Customs Brokers and Omnitrans China.
Omnitrans will proceed to function underneath present management as a standalone unit of Fastfrate.
Scotiabank acted as lead monetary adviser to Fastfrate. Stifel Canada was the unique monetary adviser to Omnitrans.
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