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On December 1, 2021, Royal Mail plc announced that its subsidiary, General Logistics Systems Canada Ltd. (GLS), completed the acquisition of Canadian logistics company Mid-Nite Sun Transportation Ltd. (Mid-Nite), one of the largest independent freight carriers in Western Canada that operates as Rosenau Transport. The shareholders of Mid-Nite are (via holding companies) members of the Rosenau family, the Rosenau Transport management team and their families. The total consideration is C$360 million on a debt and cash-free basis.
The combination of the two businesses will unlock significant growth opportunities for GLS with new and existing customers in both the Canadian and US markets. Mid-Nite will become part of Royal Mail’s GLS international freight and parcel arm, and give the company reach across Canada. The deal will allow Mid-Nite to add parcel delivery to its main freight business. The Rosenau network will also tie into existing GLS routes on the U.S. West Coast, extending its cross-border capacity.
A Fasken team including Antonella Penta (M&A), Brendan Sawatsky (M&A), Alexandra Freedman (M&A), Antonio Di Domenico (Competition), Justine Reisler (Competition), Sergio Custodio (Real Estate) and Kristian Arciaga (Real Estate) acted as counsel to General Logistics Systems Canada Ltd. in connection with this acquisition.
