March 18, 2013 8:45 AM, EDT

Fastfrate Acquired by Investment Firm

Investment firm Tepper Holdings said it has acquired a majority stake in Canadian carrier Consolidated Fastfrate from private equity firm Fenway Partners. Terms were not disclosed.

As part of the transaction Fenway will remain a minority investor in Fastfrate and invest additional capital in the company, Tepper said.

Fastrate, Woodbridge, Ontario, has truckload and less-than-truckload operations and provides logistics services. Its management team will remain in their present roles, Tepper said.