TFI acquires DLS for US$225 million

MONTREAL, Que. — TFI International on Tuesday announced that it has signed a definitive agreement to acquire DLS Worldwide, a business unit of R.R. Donnelley & Sons Co.

The deal, worth US$225 million, is expected to close in 60 days, TFI said.

Established in 2006 and based out of Bolingbrook, Ill., DLS provides logistics services through a third-party logistics network of internal sales personnel, commissioned sales agents and 140 agent-stations. 

DLS’ primary transportation modes include less-than-truckload, truckload, freight forwarding, expedited, parcel and intermodal. 

Over a recent 12-month period, DLS generated $550 million in revenue, including intercompany sales that are expected to continue after closing, TFI said. 

The company said it expects the acquired operations to generate approximately $22.5 million in operating income during the first four full quarters after closing, before potential synergies and non-cash amortization of intangible assets and related purchase accounting adjustments. 

The new business will operate as a stand-alone entity within TFI International’s logistics segment under the new name, TForce Worldwide Inc.

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