Titanium Transportation Group Inc. (TSX:TTNM) acquired Assets and Equipment of Crane Transport for $53 million on July 31, 2023. The consideration is comprising of cash, a vendor takeback loan and assumption of net debt, subject to closing adjustments (the ?Acquisition?). Titanium also purchased all real estate related to Crane?s operations, including the head office terminal in Georgia, and its satellite terminal in Alabama, for an additional consideration of $6 million. Titanium has the funds to close the transaction and does not require additional financing. Crane generates approximately US$60 million in annualized revenue and operates approximately 200 trucks. The Acquisition is expected to be accretive after integration, which management expects to be completed in approximately twelve months.

Titanium Transportation Group Inc. (TSX:TTNM) completed the acquisition of Assets and Equipment of Crane Transport for on July 31, 2023.