Mullen Group Ltd. Announces Accretive Acquisition

By Markets Businessinsider Com28 days ago

OKOTOKS, AB, April 16, 2021 /PRNewswire/ -(TSX:MTL) Mullen Group Ltd. (“Mullen Group“,“We“, “Our“ and/or the “Corporation“) is pleased to announcethat it has acquired the Bandstra Group of Companies (“Bandstra Group“), including Bandstra Transportation Systems Ltd. (“Bandstra Transportation“) and Babine Truck & Equipment Ltd. (“Babine“). A definitive share purchase agreement was signed, and the acquisition closed on April 16, 2021.

The Bandstra Group was established in 1955 and has a long history of servicing customers in the Province of British Columbia through its two primary operating businesses; Bandstra Transportation and Babine, employing an experienced and dedicated workforce of over 400 British Columbia residents.

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Bandstra Transportation, based in Smithers, British Columbia, provides a wide range of transportation and logistics services to communities in northern British Columbia including truckload; general freight; less-than-truckload; and specialized hauling services. Customers are serviced through a network of eight(8)owned and three (3) leased facilities. They operate a fleet of approximately 180 power units, 360 trailers and 70 pieces of support equipment, generating approximately $65.0 million in annualized revenue.

Babine is an Original Equipment Manufacturer (“OEM“) dealership that operates from three (3) locations in British Columbia: Smithers, Prince George and Prince Rupert. In addition to providing sales of OEM trucks and trailers, Babine provides equipment and maintenance to Bandstra Transportation as well as parts and service work that supports the natural resources, energy and transportation industries in northern British Columbia. Babine generates revenue of approximately $20.0 million annually.

This is another gem of a company that I am delighted to have in our growing organization. The Bandstra name is well known to many in the transportation industry. Founded 65 years ago, this family owned business has grown to be one of the largest diversified transportation companies in British Columbia earning a reputation for quality service and community involvement.

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