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Titanium Transportation at 52-Week Highs as Closes $60.5 Million Takeover of International Truckload Services Group

· 02/05/2021 03:21

08:15 AM EST, 02/05/2021 (MT Newswires) -- Titanium Transportation Group Inc. (TTR.V), an asset-based transportation and logistics company trading at 52-week highs, said Friday that it has completed the acquisitoin of International Truckload Services Group for about $60.5 million in cash and assumption of debt.

As a result of the takeover, Titanium expects its 2021 revenue to reach about $330 million and its EBITDA to total $33 million.

International Truckload Services, which provides logistics and truckload solutions to Canada and the U.S., generates about $80 million in annual revenues. It operates over 330 power units and 1,600 trailers led by a team of 470 employees and owner-operators.

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