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Mullen Group Ltd. T.MTL

Alternate Symbol(s):  MLLGF | T.MTL.DB

Industrials Integrated Shipping & Logistics
Mullen Group is one of North America's largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation. Mullen also provides a diverse set of specialized services related to the energy, mining, forestry, and construction industries in western Canada.


TSX:MTL - Post by User

Mullen Group Ltd.
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Post by retiredcfon Dec 13, 2022 9:44am
228 Views
Post# 35168142

RBC

RBCDecember 11, 2022

Mullen Group Ltd.
MTL divests certain non-core assets; increasing focus on transportation in our view

Sentiment: Positive

Our take. MTL today announced the divestiture of certain hydrovac assets, which management viewed as non-core. Our view is that the divestiture further increases the company's alignment toward transportation and away from OFS. We view MTL's LTL and Logistics & Warehousing businesses as more attractive long-term, and view today's announcement as a positive (absent financial considerations). We have reached out to management for further detail on the transaction.

What happened? MTL announced today the closing of an asset purchase agreement with E360S, which included E360S purchasing the hydrovac assets and business operating out of Sherwood Park, Alberta, under the former operating entity Canadian Hydrovac Ltd. and the hydrovac assets and business operating out of Hardisty, Alberta, under the former operating entity Recon Utility Search. The transaction includes E360S hiring the personnel related to the operation of the hydrovac assets.


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