Titanium Transportation Closes Acquisition of International Truckload Services for $47.3 Million
07:52 AM EST, 02/05/2021 (MT Newswires) -- Titanium Transportation Group (TTR) completed the acquisition of Canada-based International Truckload Services Group's shares for C$60.5 million ($47.3 million).
The acquisition complements Titanium Transportation's existing truckload service offering and delivers a significant increase in revenue and earnings before interest, taxes, depreciation and amortization, Titanium said. Titanium expects its 2021 revenue to be approximately C$330 million and EBITDA to be C$33 million as a result of the acquisition, combined with forecast organic growth.
The acquisition included cash considerations and assumption of net debt, subject to closing adjustments, according to a news release.