Business
Mullen Group Ltd. Announces Acquisitions of Trucking/Logistics Companies Based in the Lower Mainland of British Columbia
Mullen Group Ltd. Announces Acquisitions of Trucking/Logistics Companies Based in the Lowe...
About this update from Mullen Group Ltd.
[{"type":"text","content":"\n\n\n\nMullen Group Ltd. Announces Acquisitions of Trucking/Logistics Companies Based in the Lower Mainland of British Columbia\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOKOTOKS, AB, July 2, 2019\n\n\n\nOKOTOKS, AB, July 2, 2019 /CNW/ - (TSX:MTL)  Mullen Group Ltd. (\"Mullen Group\", \"We\", \"Our\" and/or the \"Corporation\") announced today that it has acquired Argus Carriers Ltd. (\"Argus\") and Inter-Urban Delivery Service Ltd. (\"Inter-Urban\") both of which provide transportation and logistics services in the Lower Mainland of Vancouver, British Columbia.  The transactions closed on July 1, 2019.\nArgus, a well-established company founded in 1948, has approximately 95 employees and dedicated owner operators and operates a fleet of 57 trucks and 46 trailers providing general freight services including: local pick-up and delivery, warehousing, regional less-than-truckload (\"LTL\"), dedicated and linehaul trucking from four British Columbia operating terminals - Burnaby, Kelowna, Victoria, and Nanaimo.  In addition, Argus provides daily LTL service to the Pacific Northwest of the United States.\nInter-Urban, also a well-established company founded in 1974, has approximately 70 employees and dedicated owner operators and operates 43 trucks and 26 trailers focusing on critical same day delivery service for the healthcare sector including: cross border linehaul, cross-border LTL cartage, dedicated and local pick-up and delivery.  Inter-Urban operates from one terminal based in Abbotsford, British Columbia.\nThe acquisitions of Argus and Inter-Urban align with Mullen Group's strategy of acquiring transportation and logistics companies that have a strong regional LTL presence centrally located to serve consumers in large urban centres.  Collectively these two business units have generated approximately $25.0 million in annual revenue and OIBDA margins generally in line with our current Trucking/Logistics segment results.\n\"I am extremely pleased that Argus and Inter-Urban will now be part of our organizati...