TFI International to acquire Daseke for US$1.1 billion

by Today's Trucking

TFI International has announced plans to acquire U.S. publicly traded flatbed and specialized transport firm Daseke for US$8.30 per share in an all-cash transaction and deal valued at US$1.1 billion.

Daseke’s stock closed yesterday at US$4.91, with the offer representing a 69% premium.

Picture of a truck
(Photo: Daseke)

That company operates about 4,900 tractors, 11,000 flatbed and specialized trailers, and has 1 million square feet of warehousing space. TFI expects the transaction to be neutral in terms of earnings per share next year, but to add 50 cents per share in 2025 based on current market conditions, the company said in a release.

Daseke will continue to operate under its current brands within TFI’s truckload segment, which is expected to generate about US$3.6 billion in annual revenue. The acquisition will position TFI International as one of the largest specialized equipment truckload players in the U.S., the company said.

Daseke to complement existing operations

“This attractive acquisition is highly complementary to our existing operations and scales our truckload segment into a leading North American truckload transportation and logistics business. Daseke’s deep expertise in servicing a broad portfolio of specialized and industrial end markets such as high-security cargo, agriculture, manufacturing, and construction, is critical given the relative strength of specialized market dynamics today,” said TFI president and CEO Alain Bedard.

“This acquisition also advances our strategic consideration of creating a unique opportunity for shareholders to separately invest in a specialized truckload business and in an LTL, P&C, and Logistics business. Our immediate focus will be on improving Daseke’s financial results, with the strategic consideration to follow and be ongoing.”

“We believe this transaction to be a tremendous outcome for our Daseke shareholders, providing a near-term liquidity event at a significant premium, and is consistent with our stated priority of progressing opportunities that maximize value for our shareholders,” added Jonathan Shepko, CEO of Daseke.

“TFI has a proven track record of successfully executing acquisitions that deliver value for its customers, shareholders, partners, and team members. We are very fortunate to be joining a like-minded organization who shares our commitment to strong customer relationships, services excellence, and utmost respect for our professional drivers, each of which has fueled Daseke’s success over the last 15 years.”

The deal must be approved by the majority of Daseke shareholders and is expected to close in the second quarter of 2024.


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  • Another company taken off the scene. I still do not understand how TFI is allowed to buy so many companies. Cuts competition in the industry when one company controls so much of the market. If I remember correctly, the US government made big conglomerates divest their empires to allow competition back into the industry.
    Sean Lonergan
    Burlington. Ontario

  • More companies with hard earned pedigrees, like Smokey Point Distributing, Boyd, Central Oregon Truck, etc will now dissappear into the corporate morass of TFI. Ask old timers who used to work for outfits like Loomis, Byers, and Porter what the changes were like when they came into the “tender care” of TFI. Google the Bob Seger song “Feel like a number” for your answer. Listen carefully and that sound you hear will be another thousand foreign worker application being rubber stamped in Ottawa. Sigh.

  • Hi Sebastian,

    Congrats to your TFI growth. Suggest a reunion to elaborate on coop central and along EC US.

    Pleased to hear.

    Peter / Cement-it, Inc. Fort Lauderdale FL.