Private Equity firm Fenway Partners, New York, N.Y., said Monday it acquired Canadian transportation firm Consolidated Fastfrate.
The acquisition will help Fenway “capitalize on the wide range of growth opportunities that we perceive in the Canadian transportation market,” said Marc Kramer, managing director of the firm and co-chief of its Transportation/Logistics division.
Financial terms of the deal were not disclosed. Fenway said it expects to close the sale by the end of the year.
Consolidated Fastfrate provides less-than-truckload, truckload and intermodal services throughout Canada. The company also has warehousing, logistics and drayage operations, Fenway said in a statement.
Ron Tepper, Consolidated Fastfrate’s chief executive officer, will remain with the company, said Fenway.