Mullen Group to acquire customs broker Willson International
The deal, expected to close this quarter, will add a century-old firm with over 330 employees to the trucking company's portfolio.
OKOTOKS — Mullen Group Ltd. has signed a deal to buy customs brokerage firm Willson International Ltd., adding a century-old business with more than 330 employees to its logistics portfolio.
The transaction is expected to close in the fourth quarter of 2026, the companies said.
Financial terms were not disclosed.
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"Willson is an exceptional business with a proud history, an experienced team and a brand that has earned the trust of its customers for more than a century," said Murray K. Mullen, chair and senior executive officer of Mullen Group.
Willson, which provides customs clearance and trade compliance services in Canada and the United States, is expected to contribute about $80 million in annual revenue to Mullen Group.
The company will continue to operate as a standalone business, with its existing senior management team led by Jim McKinnon remaining in place.
"We are delighted that Peter Willson has entrusted Mullen Group with carrying the Willson name and legacy forward," added Mullen.
Willson's Canadian operations will be part of Mullen Group's logistics and warehousing segment, while its U.S. operations will fall under its U.S. and international segment.
The acquisition will be funded from Mullen Group's existing cash resources.
"Willson's customs brokerage expertise, customer relationships and cross-border capabilities are an excellent strategic fit with our organization," said Mullen.
He said maintaining the standalone operating model would help preserve the qualities that have made Willson successful while providing access to the resources and financial strength of Mullen Group.
Richard Maloney, president and senior operating officer of Mullen Group, said the deal is an example of how the company deploys capital for its shareholders.
"We are investing in an established, cash-generating business operating in a specialized and essential part of the supply chain," Maloney said.
"We look forward to supporting Willson’s customers, business associates and management team as the company enters its next chapter."
Willson employs over 330 people in Canada and the U.S., most of whom are customs-certified professionals.
The business has limited ongoing capital requirements, other than continued investment in technology, and is expected to generate positive free cash flow with operating margins generally consistent with those generated by Mullen Group's logistics and warehousing segment.
Mullen Group said the acquisition complements the services currently provided by Cole International, another customs brokerage firm within its network.
Willson provides industry leading customs and logistics services to a diverse group of North American and international customers through a suite of proprietary technology solutions.
EY Parthenon Corporate Finance Inc. acted as exclusive financial advisor to Willson for the transaction, and EY LLP acted as tax advisor.
Mullen Group is a trucking and logistics company listed on the Toronto Stock Exchange under the symbol MTL.
The company describes itself as one of North America's largest logistics providers, with a portfolio that includes less-than-truckload, truckload, warehousing, and specialized hauling transportation.
With files from The Canadian Press, The Globe and Mail and BNN Bloomberg