Ron Tepper Takes Back Full Ownership of Fastfrate Group
Ron Tepper has completed a buyback of shares in Consolidated Fastfrate Inc. from Fenway Partners, a New York-based investment firm that purchased a 75% stake in the company in 2007.
“We have come full circle,” Tepper said in announcing the transaction Oct. 10. “I am very proud it is back in Canadian hands.”
Tepper Holdings, owned by Ron and Audrey Tepper, bought back shares from Fenway in two installments: March 2013 and September 2017.
Tepper
Consolidated Fastfrate is one of Canada’s largest less-than-truckload carriers, handling more than 1 billion pounds of freight per year. The company ranks No. 31 on the Transport Topics list of largest for-hire carriers in North America in the LTL sector.
Tepper Holdings also owns and operates Canada Drayage Inc., Fastfrate Integrated Logistics and BRS Transportation.
CDI provides container drayage service to all Canadian seaports and recently expanded operations to Regina, Saskatchewan, and Edmonton, Alberta. Based in Port Coquitlam, British Columbia, CDI employs about 400 drivers and is adding about 100 drivers annually.
CDI also is undergoing a change in management with the appointment of Kevin Hankison as president Oct. 6. Hankison was vice president of supply chain for Consolidated Fastfrate and has been with the company for more than three decades.
Calandrino
“Kevin has a mandate for accelerated growth,” Consolidated Fastfrate President and Chief Operating Officer Manny Calandrino said in announcing the appointment. “CDI grew their fleet 25% last year during times when the transportation industry has been pretty flat. I believe Kevin has the talent to realize unprecedented growth for CDI. His understanding of big-picture supply chain strategy is just what we need to maximize existing and future opportunities.”
Fastfrate Integrated Logistics provides highway and rail freight transportation brokerage service with offices in Montreal, Toronto, Calgary, Alberta, and Vancouver, British Columbia.
In August, Calandrino appointed Bill Robinson director of logistics. He will be responsible for non-asset-based logistics services offered by Consolidated Fastfrate in North America.
BRS Transportation is a truckload carrier offering dry van, refrigerated and flatbed service as part of the Consolidated Fastfrate group. The business is headed by Larry Cormier, who was appointed president and chief operating officer in April.
“Our objective for BRS and our other companies is to greatly expand our presence and efficiency in both domestic and U.S. markets,” Tepper said at the time of Cormier’s appointment.
