Mullen Group Expands with Acquisition of PNW
Deal News | Dec 02, 2024 | Globenewswire
Mullen Group Ltd., a leading entity in the transportation and logistics industry in North America, announced the acquisition of Pacific Northwest Investments Inc. and its subsidiary, Pacific Northwest Moving (Yukon) Limited. Based in Okotoks, Alberta, Mullen Group signed a definitive share purchase agreement and completed the acquisition on December 1, 2024. Established over five decades ago, PNW has a significant presence in the Yukon Territory and Alberta, offering diverse less-than-truckload (LTL) solutions. With terminals in Whitehorse, YT, and Edmonton, AB, PNW provides services including temperature-controlled, dry van, deck, and local delivery. This strategic acquisition allows Mullen Group to enhance its regional LTL capabilities and expand its real estate network into Northern Alberta and Yukon. Mullen Group anticipates that PNW will contribute over $25 million in annual revenue, aligning with the returns of other business units in its LTL segment. Funded through existing cash, this move underscores Mullen Group's commitment to strengthening ties with local communities through strategic acquisitions.
Sectors
- Transportation and Logistics
- Real Estate
Geography
- Canada – Both Mullen Group and Pacific Northwest Investments Inc. operate in Canada, with significant presence in Alberta and Yukon.
Industry
- Transportation and Logistics – The acquisition of PNW by Mullen Group involves the less-than-truckload segment, impacting both transportation and logistics services.
- Real Estate – Mullen Group's acquisition includes real estate assets in Northern Alberta and the Yukon, enhancing its property portfolio as part of the logistics network.
Financials
- $25 million – Expected annual revenue from the acquisition of PNW by Mullen Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mullen Group Ltd. | Acquiring Company | Company | A leading transportation and logistics company in North America, focusing on LTL solutions. |
| Pacific Northwest Investments Inc. | Target Company | Company | A long-established LTL carrier operating in Yukon and Alberta, now acquired by Mullen Group. |
| Pacific Northwest Moving (Yukon) Limited | Subsidiary | Company | Subsidiary of Pacific Northwest Investments Inc., involved in LTL services and regional transportation. |
| Mr. Murray K. Mullen | Chair and Senior Executive Officer | Person | Key executive of Mullen Group Ltd., overseeing strategic acquisitions and corporate operations. |