Hendrickson bought fellow truck suspension manufacturer Reyco Granning for an undisclosed sum, it said June 4.

TFI International acquired Quebec-based specialized truckload carrier Transport MJ Lavoie for an undisclosed sum, its fourth purchase so far in 2024.

The joining of trucking companies comes with challenges throughout the merger and acquisition process. The slow-moving procedure was exacerbated during the boom/bust cycle of 2022-23.

As trucking mergers and acquisitions followed the freight market into a down cycle, conditions have stabilized, showing positive signs for the sector going forward.

Mullen Group closed its previously announced acquisition of fellow Canadian business ContainerWorld Forwarding Services, the company revealed May 3.

Profits at TFI International in the fourth quarter fell 14.4% compared with the same period a year earlier, as acquisitions softened the impact of a weak freight environment.

After a drop in merger and acquisition activity, analysts believe the market has turned a corner. Driven by uncertain economic conditions earlier this year, M&A has now started a rebound.

Third-party logistics specialist Warehouse Services said Sept. 28 it acquired Texas-based Sky Trans Group Holdings for an undisclosed amount.

The trucking merger and acquisition market is showing early signs of a rebound after a slowdown this year caused by uncertain freight and financial conditions.

TFI International is set to acquire Class 6 to Class 8 truck manufacturer transportation provider JHT Holdings Inc., it said Aug. 7.