TORONTO, Ont. — Manitoulin has acquired IPE Logistics.
This is the eighth acquisition Manitoulin has made in the last year.
According to Manitoulin, the purchase strengthens its overall global capabilities, from Asia to North America in the less-than-container-load space, and provides enhanced access to Asian markets.
“Asia continues to be a major engine of global growth and our customers must be able to readily leverage business opportunities associated with the region,” said Dwayne Hihn, president, Manitoulin Global Forwarding. “Combining IPE Logistics’ expertise with Manitoulin’s existing capabilities enables us to satisfy the most complex freight forwarding situations. We believe that through this purchase, businesses in Canada and across North America now have improved access to Asia’s lucrative markets via an array of robust and reliable offerings.”
Gord Smith, CEO of Manitoulin Group added: “Our investments invariably relate to anticipating customers’ needs and helping them to optimize business opportunities. We expected Asia’s dynamic economies would trigger tremendous growth in our customers’ businesses and took steps years ago to ensure our infrastructure could facilitate that growth. As one entity, we are among the top international freight forwarders in Canada today, and provide a significant competitive advantage for our customers.”
IPE Logistics was founded in 2002 by Tony Leung and Paul Xian. It has offices in Toronto, Montreal, and Vancouver. IPE Logistics provides freight forwarding, project consulting, e-commerce supply chain management, and warehousing and distribution, as well as customs brokerage consulting.
“IPE Logistics is delighted to join the Manitoulin family,” said Tony Leung, former owner, IPE Logistics. “Clearly, we have complementary offerings, but our real strength lies in our shared culture of striving for excellence and delivering on what we promise. Our customers will now benefit from the integrated global supply chain capabilities of Manitoulin Group of Companies.”
Manitoulin said IPE Logistics customers can expect a business-as-usual experience with the continued leadership of Leung and Xian.