Home / Royal Mail / Royal Mail subsidiary General Logistics Systems Canada Ltd. acquires Canadian logistics company Mid-Nite Sun Transportation Ltd. for C$360 million | Client Work

Royal Mail subsidiary General Logistics Systems Canada Ltd. acquires Canadian logistics company Mid-Nite Sun Transportation Ltd. for C$360 million | Client Work

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.




Source link

About admin

Check Also

Royal Mail to scrap Saturday second-class post for nearly a million households next year amid huge shake-up of the business

By JESSICA CLARK, BUSINESS REPORTER Published: 17:02 EST, 22 December 2024 | Updated: 18:06 EST, …

Leave a Reply

Your email address will not be published. Required fields are marked *