MONTREAL, Que. – Dicom Canada has been sold to General Logistics Systems, a subsidiary of Royal Mail, for $360 million.
Dicom Canada focuses on ground-based parcel, freight, and logistics services in Canada, with a focus on Ontario and Quebec. It was owned by Wind Point, which acquired the company in 2014 from founder and majority owner Peter Overing.
Wind Point and its shareholder will retain the Dicom Transportation Group’s U.S. subsidiary, Dicom USA.
“Dicom is a great example of how Wind Point’s focus on partnering with a top caliber CEO and building a world-class management team can drive tremendous value for our investors. The sale of Dicom Canada will deliver an excellent return to our investors and management, and we look forward to working with Scott (Dobak) and the Dicom USA team to build even further on our success to date,” said Konrad Salaber, managing director of Wind Point.
“Since our initial acquisition we have created significant value at Dicom by investing in the business, nurturing its culture, and executing the aggressive value creation plan that we created with Wind Point at the very launch of the platform,” added Dobak, CEO of Dicom. “Wind Point and our board have always been dedicated partners to me and management, and we continue to value the integrity, guidance, and support they have provided from the outset of our partnership.”