Deal worth over $18 million
MISSISSAUGA, Ontario: The Wheels Group of Mississauga, Ontario has signed an agreement to purchase Bolton, Ontario-based MSM Group of Companies.
MSM offers LTL and truckload services to the US along with warehousing, cross-dock, freight forwarding and logistics services. Its American operations are situated in the Los Angeles area and the company offers same day services to southern California and to the ports of Long Beach and Los Angeles. It also has high volume consolidation lanes in the US and Canada.
“The acquisition of MSM supports our strategic goal of enhancing and broadening Wheels’ portfolio of logistics services by adding a well-established multi-national LTL component,” said Doug Tozer, CEO of Wheels. “A quick integration is anticipated, given the high degree of compatibility between information systems and with both companies being ISO registered for over a decade.”
The $18.6 million deal is expected to close before the end of September.