OKOTOKS, Alberta – Mullen Group Ltd. will acquire International Warehousing & Distribution Inc. (IWD). IWD is based in Mississauga, Ontario, and provides customs sufferance warehousing services, air import/export deliveries along with full container deliveries in the Greater Toronto Area (GTA). IWD uses a dedicated group of contractors that provide pick-up and delivery service in the GTA.
The deal is expected to close in the fourth quarter of 2020, subject to the completion of conditions customary for a transaction of this nature.
“The acquisition of IWD aligns with our strategy of investing into businesses that support the consumer part of the economy,” said Murray Mullen, chairman and CEO.
“More importantly, this acquisition demonstrates our focus on building out our logistics and warehousing network in the largest metropolitan area in Canada where over seven million consumers live, namely the GTA. This is the type of acquisition that adds value to shareholders. Currently it is not large in terms of revenue, however, as we expand our presence in eastern Canada, IWD will undoubtably serve as a platform for future growth.”
Steve Cox, a founder and owner of IWD, will remain in his current capacity during the transition period.
Mullen Group is a logistics company that owns a network of independently operated businesses. It provides a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized and specialized hauling transportation.
In addition, it provides specialized services related to the energy, mining, forestry and construction industries in Western Canada, including water management, fluid hauling and environmental reclamation. The corporate office provides capital and financial expertise, legal support, technology and systems support, shared services and strategic planning to its independent businesses.
Earlier this year the company temporarily laid off about 1,000 people because of the impact of measures to control the Covid-19 pandemic. At the time the group established a $5-million family assistance fund to help staff affected by the downturn.