TORONTO – Manitoulin Global Forwarding has acquired IPE Logistics (Canada) Ltd., of Toronto. The purchase adds to Manitoulin’s overall global capabilities, especially from Asia to North America in the less-than-container-load (LCL) space, and provides enhanced access to Asian markets.
This is the eighth acquisition Manitoulin has made in the last year.
“Asia continues to be a major engine of global growth and our customers must be able to leverage business opportunities associated with the region,” said Dwayne Hihn, president, Manitoulin Global Forwarding.
“Combining IPE Logistics’s expertise with Manitoulin’s existing capabilities enables us to satisfy the most complex freight forwarding situations. We believe that through this purchase, businesses in Canada and across North America now have improved access to Asia’s lucrative markets via an array of robust and reliable offerings.”
“Our investments invariably relate to anticipating customers’ needs and helping them to optimize business opportunities,” said Gord Smith, CEO, Manitoulin Group of Companies.
“We expected Asia’s dynamic economies would trigger tremendous growth in our customers’ businesses and took steps years ago to ensure our infrastructure could facilitate that growth. As one entity, we are among the top international freight forwarders in Canada today, and provide a significant competitive advantage for our customers.”
IPE Logistics was founded in 2002 by Tony Leung and Paul Xian. Over the years, it established itself as a national enterprise with offices in Toronto, Montreal, and Vancouver. IPE Logistics provides freight forwarding, project consulting, e-commerce supply chain management, and warehousing and distribution, as well as customs brokerage consulting.
“IPE Logistics is delighted to join the Manitoulin family,” said Tony Leung, former owner, IPE Logistics.
“Clearly, we have complementary offerings, but our real strength lies in our shared culture of striving for excellence and delivering on what we promise. Our customers will now benefit from the integrated global supply chain capabilities of Manitoulin Group of Companies.”
“IPE Logistics’s significant presence in the LCL import space from Asia, fits well with the integrated time-sensitive services that Manitoulin offers, especially given the recent port and rail congestion on both sides of the country,” Hihn said.
“With Manitoulin, businesses can be confident that regardless of challenging events affecting the industry, we have the ability to provide relevant and effective supply chain solutions that meet their needs.”
Tony Leung is president, IPE Logistics (Canada) Ltd. and Paul Xian is vice-president, IPE Logistics (Canada) Ltd. They will retain these positions.