CALGARY, - (TSX - MTL.UN) - The Mullen Group Income Fund ("Mullen" or the "Fund") announced today the closing of the previously announced acquisition of the assets and business of Essential Energy Services rust's Transport Division ("Essential") which includes its fluid hauling and oilfield transport business units. These business units operate through a network of facilities strategically located in areas known for drilling ctivity and range from northeastern British Columbia and northern Alberta into central/southern Alberta and Saskatchewan.
The fluid hauling business units acquired will operate as Cascade Services and JaCar Energy Services, both separate operating divisions of Cascade Energy Services L.P. The oilfield transport business units acquired will operate as Circle D Transport and Rentals, a division of Mullen Oilfield Services L.P., Prime Oilfield Hauling, a division of Withers L.P. and Leachman Oilfield Trucking, a division of Withers L.P. Polege Oilfield Hauling will now be operated under Withers L.P. The operating results of all the acquired business units will be included in Mullen's Oilfield Services Segment. Mullen is also very pleased to announce that Ken Wagner, the Chief Operating Officer of Essential, has accepted the position of President of Cascade Energy Services L.P.
Mullen is an open-ended income fund that owns a network of independently operated businesses. Today the Mullen Group is recognized as 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 Canada - two sectors of the economy in which the Fund has strong business relationships and industry leadership. Administration of the Fund is delegated to Mullen Group Inc. which, in addition to managing the Fund, provides management and financial expertise, technology and systems support to its independent businesses.
Mullen is a publicly traded income trust listed on the Toronto Stock exchange under the symbol "MTL.UN". Additional information is available on our website at www.mullen-group.com.
