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Mullen Group on April 16 signed a definitive share purchase agreement to acquire the Bandstra Group of Cos.
The tranaction will includes Bandstra Transportation Systems and Babine Truck & Equipment Ltd. The company and its subsidiaries are based British Columbia. It has been family-owned since its founding in 1955.
“I want to take this opportunity to welcome the Bandstra Group to our organization,” Murray Mullen, CEO of the Okotoks, Alberta, company. said in a statement. “I am also pleased that the senior management team, including several of the family members, have agreed to continue to manage and oversee the business. No one knows the Bandstra Group better than the Bandstra family.”
Bandstra Transportation will operate within Mullen Group’s logistics and warehousing segment, and Babine will operate within the specialized and industrial services segment. Both are expected to generate returns consistent with their respective operating segment.
The acquisition was funded with existing cash.
Bandstra Transportation provides various transportation and logistics services including truckload, general freight, less-than-truckload and specialized hauling services. The subsidiary has 11 leased and owned facilities as well as 180 power units and 360 trailers. It generates approximately $65 million in annualized revenue.
Babine is an OEM dealership that operates from three locations in British Columbia. The subsidiary also provides equipment and maintenance to Bandstra Transportation as well as parts and service work that supports the natural resources, energy and transportation industries in northern British Columbia. Babine generates revenue of approximately $20 million annually.
Mullen Group ranks No. 54 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. — Transport Topics
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