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Trinity Industries Acquires Quasar Platform

May 31, 2022, 07:11 AM
Filed Under: Mergers & Acquisitions

Trinity Industries, Inc. announced the acquisition of Quasar Platform Inc. from Cando Rail & Terminals Ltd. Quasar is an end-to-end rail logistics software platform providing a real-time data universe to freight rail shippers and operators. The acquisition enhances Trinity’s digital product portfolio, including Trinsight, by adding additional capabilities like yard management, activity-based costing and new data visualization tools.

“Shippers are looking for solutions that increase efficiency and visibility of their supply chain, and the Quasar team puts tremendous value on solving customer challenges and being responsive to rail shippers’ needs,” said Gregg Mitchell, Trinity’s Executive Vice President and Chief Commercial Officer. “This acquisition is an important enhancement to the Trinsight platform, as Trinity is committed to growing its services offering with new innovations to create deeper relationships with, and a better experience for, rail shippers.”

The acquisition closed on May 26 and is not expected to be material to Trinity’s results. Trinity will retain all of the employees of Quasar as part of the transaction. PricewaterhouseCoopers Corporate Finance Inc. was the exclusive financial advisor to Quasar.

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