GTI Transport Solutions Inc. ("GTI") (www.thegtigroup.com), a leading provider of specialized, value-added transportation solutions, announced that it had acquired Foxconn Logistics, an asset-light brokerage firm (www.foxconnlogistics.com). Foxconn Logistics is a non-asset contract brokerage based in Nashville, Tennessee that specializes in container management and drayage within intermodal logistics. It has a large presence in US ports around the eastern, southern, and western seaboards.
GTI's focus on the north-south corridor between Montreal and Texas is strengthened by the acquisition, which adds to the company's extensive value-added service portfolio, which includes managed transportation, container management, drayage, contract brokerage, specialized warehousing and freight forwarding, as well as specialized flatbed, heavy haul, high-value, and oversized transportation services.
''The intricacies of container and transportation management can be complex for our clients. Foxconn's integration into GTI USA enhances our managed transportation services offering and provides increased value to customers,"
-Kent Jordan, president of GTI USA.
"I was impressed with Foxconn's culture of performance, growth and excellence, as well as their strong list of blue-chip customers in the United States,said Richard Lafrenière, President & Chief Executive Officer at GTI. 'This partnership will allow GTI to complement the current service offering to Foxconn's customers. Similarly, GTI's customers will benefit from Foxconn's expertise in container transportation which can be greatly leveraged in the current environment.
"By becoming part of GTI USA, we will have additional resources to support our teams who have established deep relationships with our customers. We can quickly gain a larger share of wallet by offering a complete value-added solution for all their freight and logistics needs."
- Vincent Burch, Co-Founder of Foxconn Logistics.
'This is GTI's fourth acquisition in the last four years," said Frederick Perrault, Senior Partner at Novacap, "The team has developed a deep understanding of how to successfully integrate and scale in new verticals and geographies. We are very pleased to welcome the Foxconn team to the GTI family.'