Mullen Group announced that it has entered into a formal share purchase agreement for an undisclosed sum to acquire B. & R. Eckel’s Transport Ltd. The transaction is set to close today.
B. & R. Eckel’s Transport has a long history of providing less-than-truckload, full truckload, and general oilfield carrying services to customers in the wider Northeastern Alberta region.
B&R has a fleet of 400 power units and over 950 trailers, generating $85.0 million in yearly income. Mullen anticipates that B&R will eventually produce financial results that are comparable to the Mullen Group’s total operating margins.
The acquisition of B&R is described as a superb illustration of Mullen Group’s precision-based acquisition approach, with good timing.
“We have seen commodity prices rise and hold in a range that has attracted capital to NEAB, including applications from major energy players looking to expand production in the Cold Lake region, as well as newly sanctioned projects requiring transportation and logistics services.” Second, B&R’s broad service offerings perfectly complement Mullen Group’s operating sectors.”
B&R’s operating results will be divided into two categories: LTL and Specialized and Industrial Services. The deal will be funded by existing cash and credit lines at Mullen Group.
The acquisition of B&R is described as a superb illustration of Mullen Group’s precision-based acquisition approach, with good timing.
“We have seen commodity prices rise and hold in a range that has attracted capital to NEAB, including applications from major energy players looking to expand production in the Cold Lake region, as well as newly sanctioned projects requiring transportation and logistics services.” Second, B&R’s broad service offerings perfectly complement Mullen Group’s operating sectors.”
B&R’s operating results will be divided into two categories: LTL and Specialized and Industrial Services. The deal will be funded by existing cash and credit lines at Mullen Group.
