CALGARY, Alta. — The Mullen Group has closed the acquisition of two Saskatchewan-based privately owned companies that comprised the Brady Group.
Based in Halbrite, Sask. Carl Brady Trucking and Brady Sand and Gravel, have been in operation since 1968. The Brady Group provides services to the oil industry in the Midale and Weyburn fields located in southeastern Saskatchewan, through its facilities located in Halbrite, Weyburn and Lampman. It owns and operates a fleet of approximately 55 power units and employs approximately 85 people.
“We are pleased to add the Brady Group to our growing organization. It is an outstanding company that further strengthens the oil service sector of our business in Western Canada. The Brady Group has been in business for almost 40 years and has built an exceptional reputation for providing outstanding service to its customers which will make them a very good fit into the Mullen business model,” stated Stephen H. Lockwood, president and co-CEO.
Mullen also revealed that the three principals of the Brady Group, Kevin Brady, Lana Emde and Randy Martinson have all agreed to remain with the Brady Group to oversee its operations.
The Brady Group will be added to Mullen’s Oilfield Services segment and will be operated as an independent business unit.
“We expect that the Brady Group will continue to grow its business and expand on their prior year revenue of approximately $16 million and to produce operating earnings of approximately 25% which would be consistent with similar business units of Mullen,” commented Lockwood. “This acquisition reaffirms our strategic plan of continuing to acquire quality well run companies, even in the face of the federal government’s recent announcement concerning the taxation of income trusts.”
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