The transaction is subject to negotiation, execution and delivery of a purchase and sale agreement and the completion of due diligence and other conditions normal for a transaction of this nature. This acquisition is scheduled to close April 30, 2010 and is expected to increase Mullen Group's consolidated revenues by approximately $40m on an annualized basis.

Smook is expected to work closely with Mullen Group's subsidiary, Winnipeg based Kleysen Group (Kleysen), to expand Mullen Group's presence and service offerings in the Manitoba market.

Jeff Kleysen, president of Kleysen, said: “Northern Manitoba is a growing market and Thompson is the 'Hub of the North'. This region continues to see a great deal of investments into hydro-electricity projects, natural resources and infrastructure development.”

Murray Mullen, chairman and CEO of Mullen Group, said: “This acquisition is consistent with our strategy of investing in profitable and well managed businesses. Smook represents a new growth platform for our organization and expands upon our service offerings to the energy and natural resource sectors.

“We have an excellent team at Kleysen that understands the landscape and markets in northern Manitoba and we will rely upon their management team to provide support to Smook and capitalize on new opportunities. This combination of sound market fundamentals and strong leadership make this an attractive investment for Mullen Group.”

Will Mullen Group benefit with the acquisition?

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