Belleville-based ITS Trucking has been sold.
The company has been purchased by Titanium Transportation of Bolton in a deal worth approximately $60.5 million.
Founded in 1986, ITS provides logistics and truckload solutions to a customer base in southern Ontario, Quebec and the United States, with a focus on food products, industrial commodities and general freight.
Titanium will acquire the ITS team of 470 employees and owner-operators.
ITS generates approximately $80 million in annual revenue, operating over 330 power units and 1,600 trailers.
Company president Rob Haggarty said the recent passing of his father, ITS founder Max Haggarty, and the absence of a next generation to carry on the family business made him realize it was time to sell.
Rob Haggarty will stay on for a year to ensure a smooth transition.
A report on the sale from trucknews.com suggested that Titanium will be expanding the ITS headquarters in Belleville.
