Press Release October 29, 2008Fastfrate Names Peter Marshall President and CEO
Ron Tepper Named Executive Chairman
WOODBRIDGE, ONTARIO – October 29, 2008 – 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 Company’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 Queen’s University.
“We are fortunate to have an executive of Peter’s caliber join our organization,” said Ron Tepper.
“He brings the management capabilities and experience to Fastfrate which will play an integral role in our future success as we navigate today’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.”
John Q. Anderson, co-head of Fenway’s Transportation/Logistics practice continued, “Peter 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 Peter’s leadership and with the additional resources provided by Fenway, we expect to further solidify Fastfrate’s position as a leading Canadian transportation and logistics company.”
About Fastfrate
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 Canada’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 PartnersFenway 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. Fenway’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.
Contact:Brooke Morganstein Gordon/Jonathan Doorley
Sard Verbinnen & Co
212/687-8080
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