General Logistics Systems (GLS) is acquiring Canadian logistics company Mid-Nite Sun Transportation Ltd that operates as Rosenau Transport.
Rosenau Transport is one of the largest independent freight carriers in Western Canada. GLS says Rosenau’s service area complements its existing Canadian business. It also provides a link to GLS operations along the US West Coast, as the Rosenau Transport network moves to GLS’s combined freight and parcel model.
Founded in 1957, Rosenau Transport has 24 owned hubs and depots throughout four provinces, generating revenue of $175 million in the 12 months that ended on August 31, 2021. The purchase price is $360 million.
Rosenau Transport will continue to be led by president Ken Rosenau, and will be fully consolidated within GLS for reporting purposes once the transaction closes.
“With its strong presence in Western Canada, high quality and entrepreneurial culture, as well as freight capabilities and parcel potential, Rosenau Transport’s model is similar to our existing Canadian business and provides an excellent fit,” said Martin Seidenberg, CEO of GLS Group.
“I look forward to welcoming Ken and the Rosenau Transport team to GLS and capturing the significant opportunities ahead of us.”
GLS in Canada
GLS entered the Canadian market in 2018 through the acquisition of Dicom and operates a network of about 30 hubs and depots, with 1,400 employees. The company has delivered revenue growth of around eight percent per year since the acquisition.
Rick Barnes, president of GLS Canada says: “As we link two regional carrier networks together, with direct service to most cities and towns in the country, the extended geographical reach will provide our 30,000 clients with a new national and international alternative for all of their shipping needs.”
The acquisition is subject to the customary closing conditions and regulatory approvals.
GLS Group is a cross-border parcel service provider. The company provides parcel services to customers in 41 countries, along with freight and express services. The GLS network consists of 71 central and regional transhipment points and about 1,500 depots, which are supported by approximately 31,000 final-mile delivery vehicles and 4,000 long-distance trucks.
GLS employs around 21,000 people. In 2020/21, GLS generated record revenues of 4.5 billion euros and delivered 840 million parcels.