PBB to acquire Unicity Integrated Logistics, Inc. and Unicity Customs Services Inc

by Canadian Shipper

FORT ERIE,, Ont. — – PBB Global Logistics IncomeFund has entered into an agreement to acquire Unicity Integrated Logistics, Inc. ("UIL") and Unicity Customs Services Inc. ("UCS").

Under the acquisition agreement, PBB will acquire the operations for aggregate consideration of $42 million plus an additional payment of up to $3 million based on UIL achieving certain EBITDA targets over the course of the two years following closing.

UIL has expertise in creating strategies and systems that minimize supply chain costs by providing international clients seamless access to the Canadian market. UCS is one of the top 10 Customs Brokers in Canada. Combined Unicity has approximately 250 employees in more than 10 locations across North America, including major operations in Montreal, Mississauga and Winnipeg.

The purchase will provide additional supply chain solution capabilities to PBB’s existing logistics service offering through UIL’s cross-border deconsolidation, consolidation and onforwarding capabilities. UCS strengthens PBB’s customs presence in Western Canada, and augments PBB’s existing trade and regulatory service offering.

PBB says the transaction will enhance PBB’s leading market position in supplying cross-border supply chain solutions for its customers in Canada, United States and Mexico, and further diversifies PBB’s mix of services and customers.

Including Unicity, PBB will employ approximately 1,350 people in 90 locations located at border crossings and air / sea locations across North America and China.

"There are very few customs brokers in Canada of UCS’s size and capability. We are very excited that we have seized this unique opportunity," said Mike Scott, PBB President and Chief Executive Officer. "The acquisition of UIL’s strategic logistics capabilities demonstrates our commitment to improving our ability to serve our customers’ evolving and increasingly sophisticated supply chain management needs. In addition, we are strengthening our presence in Western Canada in our core business offerings."

The two principal owners, Ken Kotowich, President and C.E.O. of UIL, and Dwight Casson, President of UCS (collectively the "Management Vendors"), have agreed to remain with PBB.

"From the outset, it has been clear there is a good fit between our businesses,” said Ken Chalmers, PBB Chief Operating Officer. "Because of the unique service offering of UIL’s logistics business, it is our intention to continue to operate this portion of Unicity as an independent operating unit with its existing complement of management and staff."

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