Heartland Express Just Bought CFI

[Mike]

CFI is just that orphan that nobody wants. They were once a solid independent company. Since then (starting several years ago) their truckload business has been bought and sold a bazillion times. Now, they are Heartland Express. RIP.

TFI International strikes deal to sell CFI truckload and related U.S. business segments - Truck News

TFI International has announced it will sell its U.S.-based CFI truckload and temperature-controlled fleets, as well as its Mexican logistics business, to

www.trucknews.com

TFI International has announced it will sell its U.S.-based CFI truckload and temperature-controlled fleets, as well as its Mexican logistics business, to Heartland Express for US$525 million.

The sale includes about 2,000 tractors, 7,800 trailers, and 2,800 employees. TFI will retain the dedicated and U.S. logistics segments and hopes to improve margins in its remaining businesses.

 

[Rigjockey]

TFI must really want to unload CFI quick. If CFI generates 450 million a year and they are only selling it for for selling it for 525 mill. Something about CFI is just not working for TFI.