Mullen Group has closed the acquisitions of APPS Cartage and APPS Cargo Terminals, as well as Tri Point Intermodal Services.
The companies will contribute more than $100 million in annual revenues, about $90 million from the APPS businesses. APPS had initially entered into an agreement to be purchased by TFI International, but the deal was terminated under Competition Board scrutiny.
Mullen Group was able to successfully navigate that hurdle.
“After a long process of engagement with the regulatory authorities, I am delighted that we have closed the acquisition of APPS, one of Canada’s largest independently owned and operated transport companies,” Murray Mullen, chairman and CEO of Mullen Group, said in a release. “APPS will be an excellent fit in our organization expanding the service offering to shippers and consumers throughout and across Canada.”
Mullen also closed its acquisition of Tri Point Intermodal, which provides container storage and transportation services in the Greater Toronto Area. It will operate under Mullen’s logistics and warehousing segment.
“Tri Point is an intermodal service provider transporting containers between the rail terminals and customers in Southern Ontario. Intermodal is, and will continue to be, an important part of transporting consumer goods within Canada,” said Mullen.
“Never has this been more relevant than today with the supply chain under stress from increased demand and bottlenecks. Rail can provide the longhaul part of the supply chain but a local carrier is a critical part of servicing the first and final mile to the customer.”
Company founder Michael Lamanna will remain with the company, which will operate as a standalone business. APPS founder Rob McDonald has also agreed to remain with the company.
“We are expanding our service coverage just as the economy is poised to recover from the mandated business closures related to the Covid-19 health crisis,” Mullen concluded.
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