Amsterdam, September 7, 2018. General Logistics Systems (GLS) announces that it has acquired Canadian parcel delivery company, Dicom Canada, from Wind Point Partners, a Chicago-based private equity firm.
Dicom Canada primarily provides business-to-business parcel services, operating across Canada, with a major focus on the Eastern Canadian provinces of Ontario and Quebec. Canada is the world’s 10th largest economy¹, with Ontario and Quebec representing 57 per cent of the country’s GDP². Dicom Canada is well-placed to leverage growth trends in these markets and provides GLS with an established market position in this key economy.
Dicom Canada offers ground-based parcel, freight and logistics services. It operates a network of 28 depots and works with partner carriers across Canada to provide pan-Canadian logistics services. Dicom Canada has experienced good revenue and profit growth in recent years. The acquisition does not include Dicom’s US business.
The total consideration is C$ 360 million (approximately €238 million³) on a debt and cash free basis. Dicom Canada generated unaudited revenue of C$ 233 million in the 12 months ended 30 June 2018. The acquisition is not subject to regulatory approvals.
Rico Back, Chief Executive Officer, Royal Mail Group, said: “This acquisition is in line with GLS’ strategy to grow through targeted and focused acquisitions to capture higher growth segments outside Europe. With its strong presence in Eastern Canada and primary focus on the business-to-business segment, Dicom Canada’s business model is similar to GLS’ as it provides a high quality delivery service, based on its focus on reliability and excellent customer satisfaction.” Dicom Canada will continue to be led by Rick Barnes, President, together with Dicom Canada’s existing management team. Dicom Canada will be fully consolidated within GLS for reporting purposes.
About GLS Group
GLS, General Logistics Systems B.V. (headquartered in Amsterdam), realises reliable, high-quality parcel services for over 270,000 customers, complemented by logistics and express services. “Quality leader in European parcel logistics” is GLS’ guiding principle, sustainability being one of the core values. Through wholly owned and partner companies, the Group provides a network coverage of 41 European and eight U.S. states and is globally connected via contractual agreements. About 50 central transhipment points and more than 1,000 depots and agencies are at GLS’ disposal. With its ground based network GLS is one of the leading parcel service providers in Europe. GLS counts 18,000 employees and every day around 30,000 vehicles are on route for GLS. In the financial year 2017/18 GLS achieved revenues of 2.9 billion euros and transported 534 million parcels.
About Dicom Canada
Dicom Canada is a transportation and logistics company headquartered in Montreal, Quebec. Dicom Canada operates three business segments: Express, Freight and Logistics. Services provided include overnight and second‐day parcel, freight transportation, freight management and last mile services in the U.S. and Canada. Dicom Candada employs around 1,400 people directly and uses sub-contractors across some parts of the business.
More information: gls-group.eu
Anne Putz, Head of Communication & Marketing
Phone: +49 (0) 172 1781 105 or firstname.lastname@example.org