Consolidated Fastfrate Inc., a leading provider of transportation and logistic services in Canada, today announced that Peter Marshall has been named President and Chief Executive of Consolidated Fastfrate Inc. and its subsidiaries, effective immediately. Ron Tepper will become the Companyâ€™s Executive Chairman and focus on the growth and strategic direction of Fastfrate.
Mr. Marshall has broad experience in the North American transportation and logistics industry. Most recently, he held a senior executive role with CN Rail. His background also includes extensive sales and marketing experience with Imperial Oil Limited. Mr. Marshall holds a business degree from Queenâ€™s University. â€œWe are fortunate to have an executive of Peterâ€™s caliber join our organization,â€ said Ron Tepper. â€œHe brings the management capabilities and experience to Fastfrate which will play an integral role in our future success as we navigate todayâ€™s economic environment and continue to grow our business. I very much look forward to working alongside Peter in my new role as Executive Chairman.â€
John Q. Anderson, co-head of Fenwayâ€™s Transportation/Logistics practice continued, â€œPeter
brings to Fastfrate significant management, commercial and operational experience, and will be a valuable addition to the Fastfrate team as it continues to grow organically and through
acquisitions. Under Peterâ€™s leadership and with the additional resources provided by Fenway, we expect to further solidify Fastfrateâ€™s position as a leading Canadian transportation and logistics company.â€
Consolidated Fastfrate is one of the largest privately owned providers of transportation and
logistic services in Canada, employing more than 2,000 people and transporting more than 2
billion pounds of freight annually. Founded in 1966, CFF has grown into a diversified
transportation company whose services include: LTL and truckload from any point to any point
within Canada and the northeast and Midwest United States, national drayage services, cartage,
warehousing, transloading on both the west and east coats, special operational direct ship
program for select retailers, and third party logistics. CFF has 17 operating terminals across
Canada and has been the recipient of numerous awards, including one of Canadaâ€™s 50 best
managed companies for seven years running. A fund managed by Fenway Partners and
Westerkirk Holdings own a combined 75% of the company while Ron Tepper owns 25%. For
more information about Fastfrate, visit www.fastfrate.com.
About Fenway Partners
Fenway Partners is a middle market private equity firm based in New York with approximately
$2.0 billion under management. Fenway invests in profitable businesses with significant upside
potential. Fenway companies typically have leading franchises and operate in two core industry segments, branded consumer products and transportation/logistics. With significant knowledge
and success investing in these industries, Fenway has built a strong reputation for its hands on
approach to supporting portfolio companies. Fenwayâ€™s current portfolio includes: 1-800-CONTACTS (the leading direct-to-consumer distributor of contact lenses); American Achievement (class ring and yearbook supplier to schools); Coach American (motorcoach bus operator); Easton Bell Sports (performance sporting goods manufacturer); Fastfrate (Canadian transportation and logistics services); Panther (expedited ground and air transportation solutions); Preferred Freezer (frozen public warehousing services); Refrigerated Holdings (temperature-controlled warehouse and transportation services); RoadLink (intermodal logistics);and Targus International (designer and distributor of mobile computer carry cases and accessories). For further information about Fenway Partners, please visit www.fenwaypartners.com.
Brooke Morganstein Gordon/Jonathan Doorley
Sard Verbinnen & Co