Canadian trucking operator Mullen Group has signed an agreement to acquire Jay’s Moving & Storage, a less-than-truckload carrier based in Regina, Saskatchewan.
The transaction is expected to close on June 1, 2013. Terms were not disclosed. Jay's, founded in 1964, is owned by Dennis Doehl.
Jay’s operates 11 terminals and warehouses in the province of Saskatchewan, with more than 450 employees and a fleet of more than 600 trucks and trailers. After the acquisition is completed, Jay’s will be operated as a stand-alone business within Mullen Group, which provides transportation services in western Canada, and is expected to add annual revenue of about $35 million to $40 million to Mullen Group’s consolidated results.
Doehl has agreed to remain with Jay’s for the remainder of the year to help with the transition, said Murray K. Mullen, chairman and CEO of the $1.4 billion Mullen Group.