Precision acquired by GTI
By Alex Dahm12 February 2019
GTI Transport Solution Inc has acquired Precision Specialized Division Inc in Canada.
Precision Specialized is a division of Precision Truck Lines. Woodbridge, Ontario-based PSD is an open-deck and heavy haul transport operator in the province. GTI also operates open-deck, specialized and over-dimensional freight services.
All jobs will be retained, according to GTI private equity backer Novacap, which also said GTI plans to invest and expand into new markets. All operations will move to Brantford, Ontario, and the name will change to Precision Specialized Inc (PSI).
Commenting on the deal Richard Lafrenière, GTI chief executive officer, said, “The team at Precision Specialized has demonstrated market leading know-how in quality of service and engineering of complex project driven loads. We firmly believe that blending their expertise with the broad footprint of GTI will enable us to drive growth and become the preferred open-deck and heavy haul transportation company in North America.”
Ed Bernard, former Precision Specialized Division vice president, will now be Precision Specialized Inc president. Bernard said, “Precision Specialized is proud to be joining forces with GTI to propel our company to the next phase of its growth. A team of seasoned managers will bring valuable expertise and an injection of fresh capital will enable us to better serve our customers across North America. Moving operations 60 miles to Brantford gives us much needed space for our growing equipment assets.”
Frédérick Perrault, Novacap senior partner, said, “This acquisition is a continuation of GTI’s strategic plan to expand its current capabilities and geographic reach. Combined with the launch of GTI USA in 2018 and other acquisitions in the pipeline, we are very enthusiastic about the group’s future.”