Fastfrate Acquires ASL Distribution Services
Canada’s trucking industry has been seeing an unusual spike in business mergers and acquisitions across the country, with shakeups for logistics providers like Titan Transline and others.
Most recently, Fastfrate Group acquired ASL Distribution Services. Details of the transaction have yet to be released, though the deal is expected to add about $120mn to Fastfrate Group’s projected revenue for the year 2021.
As a result of the acquisition, Fastfrate will be getting 13 new terminals and Final Mile hubs across Canada; in Manitoba, Ontario, and Quebec, as well as in New York. Additionally, they’ll also gain access to ASL’s e-commerce capabilities, allowing for an e-commerce department.
ASL’s home and office Final Mile delivery division is responsible for handling at least 2mn deliveries every month.
Fastfrate President and CEO Manny Calandrino stated that ASL has the technology and processes to handle the e-commerce needs of Fortune 100 companies in North America. Thanks to the acquisition, they can integrate this into Fastfrate’s logistics infrastructure and provide their clients with better services, which they say will lead to better growth across the national market.
ASL management is expected to stay as they are, with little, if any, major changes among the higher-ups.
ASL Distribution Services President and CEO Cole Dolny stated that they’ve been working with Fastfrate for at least 3 decades now, with their partnership marked by strategic deals and moves, making the most of their respective organizations’ capacities and resources, to provide better logistics to their customers.
Dolny says that ASL and Fastfrate have similar cultures, and have been working together long enough that the decision for the acquisition was a logical one.
Notably, Fastfrate’s been busy with acquisitions in the past couple of years. In 2019, the company expanded its cross-border services by acquiring Bestway, adding that company to their lineup, alongside Fastfrate Integrated Logistics and Canada Drayage Inc. (CDI).
Fastfrate Group Executive Chairman Ron Tepper stated that they’re working aggressively to secure growth avenues, whether through new partnerships or business acquisitions.
Tepper says that every new company that the Fastfrate group acquires brings something special to the table, helping them improve the service offerings that customers have access to. They state that the acquisition of ASL not only boosts their final mile and e-commerce capabilities but also lets ASL’s customers access a more robust national logistics network.