Dicom Transportation Group Acquires Modern Forwarding
Dicom adds cross-border capabilities between Canada and the U.S.
Wind Point Partners announced today that portfolio company Dicom Transportation Group, a leading provider of business-to-business (“B2B”) expedited transportation services based in Montreal, QC, has added cross-border capabilities through the acquisition of Modern Forwarding.
Based in Windsor, Ontario, Modern Forwarding provides truckload and less-than-truckload transport with emphasis on U.S.-Canada cross-border business. Modern possesses expertise in customs clearance and handles U.S.-based shipments for distribution throughout Ontario on behalf of Fortune 500 customers. The Company’s fleet consists of approximately 100 drivers and owner-operators, and this is expected to substantially increase in 2015. Modern will be aligned with the Freight division of Dicom Transportation Group.
Wind Point acquired Dicom in February 2014 in partnership with Scott Dobak, who joined as CEO. Prior to joining Dicom, Scott served as President of RoadRunner Transportation’s LTL and TMS segments, representing a $775 million P&L.
“Modern provides Dicom with cross-border capabilities and a complementary line haul network run by a team of exceptional operators,” said Dobak. “Modern’s cross-border expertise will serve as an important link between Dicom’s extensive Canadian footprint and our expanding U.S. network.”
Konrad Salaber, a principal at Wind Point, added, “The acquisition of Modern is a key step in expanding Dicom’s scale and scope of services. With over CAD $250 million in annual sales, Dicom is firmly establishing itself as a leading transportation and logistics provider for North American shippers.”
Dicom’s acquisition program focuses on acquiring courier, LTL and transportation providers in Quebec, Ontario and the United States. In addition, Dicom is seeking 3PL providers who manage transportation, logistics and supply chain functions for businesses in Canada, the U.S. and Mexico.
Kirkland & Ellis LLP served as legal advisor and KPMG LLP acted as a transaction advisor to Wind Point and Dicom. AIM Group Canada served as exclusive financial advisor to Modern Forwarding.