• ITVI.USA
    13,613.110
    0.400
    0%
  • OTRI.USA
    20.310
    0.150
    0.7%
  • OTVI.USA
    13,578.480
    0.790
    0%
  • TLT.USA
    2.660
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.420
    -0.110
    -4.3%
  • TSTOPVRPM.CHIATL
    2.140
    -0.050
    -2.3%
  • TSTOPVRPM.DALLAX
    1.220
    -0.160
    -11.6%
  • TSTOPVRPM.LAXDAL
    2.570
    0.060
    2.4%
  • TSTOPVRPM.PHLCHI
    1.400
    -0.110
    -7.3%
  • TSTOPVRPM.LAXSEA
    2.880
    0.000
    0%
  • WAIT.USA
    108.000
    5.000
    4.9%
  • ITVI.USA
    13,613.110
    0.400
    0%
  • OTRI.USA
    20.310
    0.150
    0.7%
  • OTVI.USA
    13,578.480
    0.790
    0%
  • TLT.USA
    2.660
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.420
    -0.110
    -4.3%
  • TSTOPVRPM.CHIATL
    2.140
    -0.050
    -2.3%
  • TSTOPVRPM.DALLAX
    1.220
    -0.160
    -11.6%
  • TSTOPVRPM.LAXDAL
    2.570
    0.060
    2.4%
  • TSTOPVRPM.PHLCHI
    1.400
    -0.110
    -7.3%
  • TSTOPVRPM.LAXSEA
    2.880
    0.000
    0%
  • WAIT.USA
    108.000
    5.000
    4.9%
CanadaNewsTrucking

Mullen acquires two British Columbia carriers

Mullen Group (TSX:MTL) has acquired two carriers in British Columbia, growing the Canadian transportation and oil services company’s less-than-truckload and delivery business.

Alberta-based Mullen purchased Argus and Inter-Urban, which generate a combined C$25 million (A Canadian dollar equals US$0.77) in annual revenue.

“These businesses have a long-standing history of providing a quality trucking/logistics service in the Province of British Columbia, a tradition we intend to continue to build upon,”  Mullen CEO Murray Mullen said in a statement on July 2.

Argus, based in Burnaby, has 57 trucks and specializes in local deliveries, regional less-than-truckload, linehaul and cross-border freight in the Pacific Northwest. Abbottsford-based Inter-Urban, with a fleet of 43-trucks, offers less-than-truckload services and specializes in same-day delivery services for the medical industry.

“We intend to further invest in both companies to capitalize on new opportunities,” Mullen said.

Mullen Group closed a C$110 bought-deal offering on June 21, and also expanded its line of credit with the Royal Bank of Canada by C$25 million.

The acquisitions, which closed on July 1, build on the growing strength of Mullen’s transportation and logistics segment, which set first-quarter profit and revenue records this year. 

Mullen reported in April that its 14 transportation and logistics firms, all based in Canada, generated C$30.1 million on revenue of C$215.2 million in the first quarter of 2019. 

Murray Mullen told analysts that he would be looking to purchase transportation and logistics firms during the year.

Tags
Show More

Nate Tabak, Border and North America Correspondent

Nate Tabak is a Toronto-based journalist who covers cross-border trucking, logistics and trade for FreightWaves. Before moving to Canada, he spent seven years reporting stories in the Balkans and Eastern Europe as a reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley, where he studied the history of American policing. Contact Nate at ntabak@freightwaves.com.
Close