Canada’s Mullen Group acquires Brady Group

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Canada’s Mullen Group Income Fund has announced the closing of its acquisition of Carl Brady Trucking and Brady Sand & Gravel. The Brady Group — based in Halbrite, Saskatchewan, Canada — provides services to the oil industry in the Midale and Weyburn fields located in southeastern Saskatchewan, through its facilities located in Halbrite, Weyburn and Lampman, Saskatchewan. It owns and operates a fleet of about 55 power units and employs about 85 people.

“We are pleased to add the Brady Group to our growing organization,” says Stephen H. Lockwood, president and co-chief executive officer of the Mullen Group Fund, based in Calgary, Alberta, Canada. “It is an outstanding company that further strengthens the oil service sector of our business in western Canada. The Brady Group has been in business since 1968 and has built an exceptional reputation for providing outstanding service to its customers, which will make them a very good fit into the Mullen business model. We expect that the Brady Group will continue to grow its business and expand on their prior-year revenue of approximately $16 million and to produce operating earnings of approximately 25 percent, which would be consistent with similar business units of Mullen.”

The three principals of the Brady Group — Kevin Brady, Lana Emde and Randy Martinson — all have agreed to remain to oversee its operations. The Brady Group will be added to Mullen’s Oilfield Services segment and will be operated as an independent business unit.