Merger Boosts Expansion in Moving and Storage Industry
Mission Group and BigSteelBox Merge to Accelerate Expansion in multi-billion industry
(firmenpresse) - VANCOUVER AND KELOWNA, BRITISH COLUMBIA -- (Marketwire) -- 05/17/12 -- BigSteelBox and Mission Group have signed a merger agreement to accelerate BigSteelBox's growth in the rapidly expanding industry. With 18 locations across Canada, BigSteelBox is gaining market share in the multi-billion dollar industry with its innovative container-based service.
Mission Group has developed and sold over $600 million in residential real estate by providing original designs and excellent customer service. Both privately held companies, the merger creates a stronger more diversified company well positioned to take advantage of current opportunities for expansion in Ontario, Canada's largest market.
With the merger BigSteelBox () gains access to construction and land acquisition expertise and it insulates Mission Group () from the cyclical real estate market. BigSteelBox rents and sells storage and for residential, construction, industrial and commercial use. An expanding part of its business is BigSteelBox modifications. BigSteelBoxes have been modified for many different uses, including offices, housing, guard shacks and mobile labs and Mission Group's construction division will dramatically boost its ability to meet the growing market demand.
"The merger agreement was a mutual collaboration with all the partners," says Jason Siebenga, president of BigSteelBox. "It makes both companies stronger: Mission Group is an award-winning developer that will help BigSteelBox acquire land as it expands across Canada and enables us to service the growing modification business."
Both companies will continue to operate under their own brand identity. Current staff members of both entities will work for a merged entity called Mission Group Ltd.
"The companies have similar values based on providing their customers with an exceptional experience," says Jonathan Friesen, chairman, Mission Group. "Both companies have been successful by providing industry innovations and working together better positions both companies to capitalize on opportunities."
Mission Group subsidiaries include one of the largest builders in the Okanagan, MGC Construction and Mission Group Commercial, which provide leasing of the commercial holdings. As the builder for Mission Group's residential and commercial communities, MGC Construction has completed projects ranging from $150,000 to $75 million. The acquisition of land for current and future BigSteelBox operations will be part of land holdings which will become commercial building projects.
Mission Group develops residential communities in the Vancouver/Lower Mainland and the Okanagan. Past communities include Ocean Bay Villas in White Rock, Sage Townhomes in Abbotsford and Mission Shores, Verve, Sheerwater, Amberhill and Mode in Kelowna. Current communities include Dwell and Winsome Hill in Kelowna and plans are underway for Secret Ridge in Coquitlam and Aqua Resort in Kelowna.
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Datum: 17.05.2012 - 12:36 Uhr
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News-ID 1115808
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"Merger Boosts Expansion in Moving and Storage Industry
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