Alberta’s trucking landscape is poised to change with the acquisition of Hi-Way 9 Group of Companies by Mullen Group Ltd. (TSX: MTL). The deal, which is scheduled to close on June 1, includes Hi-Way 9 Express Ltd., Load-Way Ltd., Streamline Logistics Inc. and 1006213 Alberta Ltd. Terms were not disclosed, other than that the purchase price will be paid by way of cash and shares. The Hi-Way 9 companies are based in Drumheller but have operations across the province, including terminals in Red Deer, Rocky Mountain House, Stettler and Sundre.
Stephen Lockwood, Mullen Group’s president and co-chief executive officer said that Dean Kohut, Darrell Kohut and Heather Colberg — owners and officers in Hi-Way 9, will remain with the business. The Mullen Group owns a network of independently operated businesses. It is the largest provider of specialized transportation and related services to the oil and natural gas industry in Western Canada, and a leading supplier of trucking and logistics services in Canada.