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SNDR - TFI International Seeks U.S. IPO To Pay Down Debt
Schneider National Inc.
Quick Take
TFI International (TFII) has filed to raise $199 million in an IPO of its common stock, according to an F-10 registration statement.
The firm operates as a truck-based transportation services provider in North America.
TFII is generating significant free cash flow but is using the IPO proceeds solely to pay down debt and its revenue growth is anemic, at 1.1%.
Company & Customers
Saint-Laurent, Quebec, Canada-based TFI was founded to provide various integrated cargo transport services to businesses and organizations in North America.