ALDERSYDE, Alta. — Mullen Group Income Fund has announced it has signed a deal to acquire family-owned Kleysen Investments.
The Winnipeg-based Kleysen group has been in operation since 1935. It’s a diversified Canadian transportation and logistics operation offering bulk transportation, deck transportation, multi-commodity transload services and intermodal transportation services.
“We are pleased to add Kleysen to our growing organization,” announced Stephen Lockwood, president and co-chief executive officer of Mullen. “Having been in business for over 70 years they have built an exceptional reputation for providing outstanding service to their customers and have been a good competitor to Mullen over the years. We look forward to working with the management team on enhancing the service offerings to Mullen’s existing customers and realizing on the potential synergies resulting from this acquisition. This is a quality company with an established history and as such we anticipate a smooth integration. And we expect Kleysen will continue to grow its business and expand on their prior year’s revenue of approximately $100 million and to produce operating earnings consistent with other Mullen businesses in our trucking segment.”