The Daily Dash: Chain.io’s $5M funding round
Canada’s Mullen Group acquires British Columbia group
0 42 1 minute read (Photo by Jim Allen/FreightWaves)
The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight a funding round for a data integration provider, a different approach to hedging on diesel prices and more
The High Five
1. Data integration provider Chain.io has raised $5 million in a funding round led by Grand Ventures and Mercury Fund. The company will use the funds to fill a number of positions in sales, engineering, customer success and more.
Canada’s Mullen Group dips toe into truck sales with Bandstra acquisition
Trucking firm picks up Volvo and Mack dealership alongside British Columbia carrier Mullen Group s portfolio of transportation and logistics companies includes Payne Transportation. (Photo: Jim Allen/FreightWaves)
Canadian trucking and logistics giant Mullen Group (TSX:MTL) has acquired British Columbia-based Bandstra Group of Companies in a deal that adds a trucking operation and intriguingly a Volvo and Mack truck dealership with three locations.
The acquisition, announced late Friday, adds the 180-truck Bandstra Transportation Systems and Babine Truck & Equipment. Together they generate $78 million (CA$85 million) in revenue, according to Mullen.
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Canadian trucking and logistics giant
Mullen Group (TSX:MTL) has acquired British Columbia-based Bandstra Group of Companies in a deal that adds a trucking operation and intriguingly a Volvo and Mack truck dealership with three locations.
The acquisition, announced late Friday, adds the 180-truck Bandstra Transportation Systems and Babine Truck & Equipment. Together they generate $78 million (CA$85 million) in revenue, according to Mullen. This is another gem of a company that I am delighted to have in our growing organization, CEO Murray Mullen said in a statement.
From a trucking standpoint, the deal strengthens Mullen s presence in British Columbia. Bandstra Transportation provides truckload, less-than-truckload, specialized and logistics services to the province s northern communities.