Mullen expands specialized oilfield services segment

CALGARY — The Mullen Group Income Fund, parent of Mullen Transport, has acquired Canadian Dewatering Ltd., a private corporation based in the B.C.

Canadian Dewatering is a dewatering services company, which also rents and sells pumps and support equipment. While main operations are based in B.C., the company has expanded to areas in Alberta and the Northwest Territories.

“The acquisition of Canadian Dewatering will fit very nicely with our existing dewatering business of Northern Underwater Systems whose business is primarily focused in Alberta and Saskatchewan. We look forward to working with the management team on enhancing Canadian Dewatering’s service offerings and realizing on the potential synergies resulting from this acquisition,” said Stephen Lockwood, president and Co-CEO of Mullen.

This investment is expected to add over $15 million to Mullen’s consolidated revenues and generate operating margins in the 30 percent range, the company stated in a press release.

The Mullen Group is the largest provider of specialized transportation and related services to the oil and natural gas industry in western Canada and as one of the leading suppliers of trucking and logistics services in the country. Overall, it is Canada’s second-largest for-hire carrier.