Novacap’s GTI Transport Solutions acquires Jetco Delivery

GTI Transport Solutions Inc., a portfolio company of Novacap, has acquired Jetco Delivery, Inc., a Houston, Texas based transporter offering flatbed, heavy-haul, intermodal, logistics, and specialized loads in the Texas region and across the United States.

Montreal based GTI specializes in open-deck, heavy haul and over dimensional transportation services while also offering specialty storage, logistics and freight forwarding services.

The Jetco acquisition enables GTI to establish a strong operational platform in the United States. Together with the acquisition of Precision Specialized Division, a specialized carrier based in Ontario in February 2019, GTI is establishing an integrated group focused on specialized transport across North America.

In February 2014, Novacap Industries III LP acquired the majority of GTI Transport Solutions.

photo credit: Jetco Delivery

News Release

GTI Transport Solutions expands into the US by acquiring Jetco

MONTREAL, May 13, 2019 /CNW Telbec/ – Novacap, one of Canada’s leading private equity firms, is proud to announce that its portfolio company GTI Transport Solutions Inc. (“GTI”), a leading provider of open-deck, specialized and over-dimensional freight services has completed the acquisition of Jetco, a Houston-based transporter offering flatbed, heavy-haul, intermodal, logistics, and specialized loads in the Texas region and across the United States. This acquisition allows GTI to establish a strong operational platform in the United States, which will provide GTI with the ability to further strengthen and widen its offering to its customers throughout North America.

The transaction with Jetco follows the acquisition of Precision Specialized Division, a specialized carrier based in Ontario, in February 2019. Through these acquisitions and the brokerage network GTI is currently deploying in the US via GTI USA, GTI is establishing an integrated group focused on specialized transport across North America. With now seven locations in the United States and three in Canada, GTI provides specialized asset-based and non-asset transport solutions to the most demanding clients.

“The team at Jetco is renowned as a market leader in their quality of service and in always prioritizing safety in their transport” says 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.”

“This acquisition will also increase GTI’s scale and will deepen our geographic reach,” adds Frédérick Perrault, Senior Partner of Novacap.” Jetco will complement GTI’s US division with its strong asset base and will serve as our platform for future acquisitions in the US.”

Brian Fielkow, CEO of Jetco, will continue in his current capacity as CEO. Mr. Fielkow adds, “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.”

About GTI

GTI Transport Solutions (“GTI”) 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 sq.ft. of specialized warehousing. For further information, visit www.thegtigroup.com

About Jetco

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. We currently operate a fleet of more than 100 trucks and 250+ trailers, and because of our diverse fleet, are able to meet all of your LTL and semi-tractor transportation needs including: shipping containers by rail and sea, flatbeds and dry vans. For further information, visit www.jetcodelivery.com/about-us

About Novacap

Founded in 1981, Novacap is a leading Canadian private equity firm with $2.8 billion of assets under management. Novacap’s unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class companies. For more information, please visit www.novacap.ca.

SOURCE Novacap Management Inc.

For further information: Valérie Gonzalo, AGO Communications, 514.626.6976, valerie@agocom.ca

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.