GTI Transport Solutions (GTI), a leading provider of open-deck, specialized and over-dimensional freight services, has acquired Jetco, a Houston, TX -based transporter offering flatbed, heavy-haul, intermodal, logistics and specialized loads. Terms of the deal were not disclosed. GTI is a portfolio company of Novacap, a private equity firm based in Canada.
This acquisition allows GTI to establish a strong operational platform in the United States and provide the company the ability to strengthen and widen its services in North America, the company said.
Through these acquisitions and the brokerage network, GTI is deploying in the United States via GTI USA, GTI is establishing an integrated group focused on specialized transport across North America, according to the press release. With seven locations in the United States and three in Canada, GTI provides specialized asset-based and non-asset transport solutions to its clients.The Jetco purchase follows the February 2019 acquisition of Precision Specialized Division, a specialized carrier based in Ontario, Canada.
“The team at Jetco is renowned as a market leader in their quality of service and in always prioritizing safety in their transport,” said Richard Lafrenière, CEO of GTI. “The strategic strong local presence that Jetco has in Texas will increase GTI’s position in the region and establish a performing North-South corridor with its Canadian operations.”
Frédérick Perrault, senior partner of Novacap, said the acquisition will increase GTI’s scale and deepen its geographic reach.
“Jetco will complement GTI’s U.S. division with its strong asset base and will serve as our platform for future acquisitions in the US,” Perrault said.
Brian Fielkow, CEO of Jetco, will remain in his position.
“Jetco is glad to join forces with a leader in specialized transport such as GTI and we are looking forward to start working together to bring the company to the next level,” Fielkow said.
GTI Transport Solutions specializes in open-deck, heavy haul and over dimensional transportation services while also offering specialty storage, logistics and freight forwarding services. GTI has fully equipped transportation terminals in Quebec and Ontario and 300,000 square feet of specialized warehousing.
Established in 1976 with one truck, Jetco has become one of the Gulf Coast’s top diversified carriers, serving small businesses to Fortune 500 companies. The company operates a fleet of more than 100 trucks and 250-plus trailers.