GTI Transport Solutions Inc., a provider of open-deck, specialized and overdimensional freight services, has acquired Jetco, a Houston-based carrier, according to a news release by GTI and its parent company, Novacap of Montreal.
Terms were not disclosed.
Jetco supplies flatbed, heavy-haul, intermodal, logistics and specialized-load service in Texas and across the United States. Jetco was established in 1976 with one truck and now is a carrier along the Gulf Coast with more than 100 trucks and 250 trailers.
The acquisition allows GTI to establish an operational platform in the United States and North America, GTI officials said.
The Jetco transaction follows the February acquisition of Precision Specialized Division, a specialized carrier based in Ontario. Through these deals and the brokerage network, GTI said it is establishing specialized transportation across North America.
With Jetco now in the fold, GTI has seven locations in the United States and three in Canada.
GTI also offers specialty storage, logistics and freight-forwarding services. It has transportation terminals in Quebec and Ontario and 300,000 square feet of specialized warehousing.
Novacap is a private equity firm with $2.8 billion of assets under management, according to the news release. — Transport Topics