Fastfrate Group has announced the majority acquisition of the Challenger Group to create an end-to-end transportation and supply chain offerings.
Challenger Group's cross-border trucking capabilities will be added to Fastfrate’s suite of services, which includes less-than-truckload, truckload, intermodal, drayage, logistics, warehousing, distribution services, home delivery and e-commerce.
The newly combined entity will bring over 100 years of experience combined, more than 5,000 employees and owner operators, over 1.2 million square-feet of facilities, and over 5,500 pieces of equipment.
As part of the terms of the acquisition, Challenger Group will continue to operate independently under incoming CEO Jim Peeples. Dan Einwechter will remain chairman of Challenger Group and join Fastfrate’s board. Manny Calandrino will continue as CEO of the Fastfrate Group.
Now with seven companies and 40 locations operating across Canada and the United States, Fastfrate Group is one of the largest independently owned transportation and supply chain companies in Canada.
"After years of aggressive growth, Fastfrate Group is ready to set a new standard in our industry," Calandrino said. "We have the people, solutions, and service to deliver on our promise to customers.”