Titanium Transportation Group has acquired Crane Transport of Georgia, the company announced July 31.
The $53 million deal, Titanium’s first U.S. asset-based acquisition, includes Crane’s fleet of 200 trucks.
Crane’s Georgia and Alabama terminals, which cost Titanium another $6 million, fit the Bolton, Ontario, company’s strategic plan for North American growth, CEO Ted Daniel said in a statement.
“The addition of Crane Transport’s full truckload business is highly synergistic within our existing network, immediately adding capacity and valuable new customer relationships,” Daniel said.
Danny Crane founded full truckload specialist Crane Transport in 2001. Titanium said Crane generates approximately $60 million in annualized revenue.
Crane’s facilities and trucks will bolster Titanium’s fleet of 1,000 trucks and 3,300 trailers. Titanium’s other services include brokerage, warehousing, truckload, logistics, cross-border trucking services and warehousing spread across 18 locations in the U.S. and Canada.
Titanium has grown through acquisition since its founding as a broker in 2002. The company made 12 asset-based trucking acquisitions since 2011 including Canada-based companies Bert and Son’s Cartage in January 2022 and International Truckload Services Group in February 2021.
“With the addition of Crane Transport, we see multiple near-term opportunities to enhance profitability, as well as longer-term opportunities to optimize equipment and technology towards continued growth and shareholder value creation,” Daniel said.
