In its continuing effort to diversify its holdings, InnHouse Group of Companies (“InnHouse”) today announced that it has acquired the assets of Inter-Urban Delivery Services Ltd (“Inter-Urban”).Founded in 1974, Inter-Urban is an Abbotsford, BC-based transportation and logistics company providing delivery services throughout the Lower Mainland of British Columbia and Washington State. The Company offers Dedicated Contract Carriage, Full Truckload Delivery, Less than Truckload (LTL) Consolidation and Distribution, Bulk Storage and Container De-Stuff services.
Partnering with InnHouse on the acquisition is Inter-Urban’s incoming President and CEO, Jamil Murji. Early in his career, Mr. Murji developed fleet management and dispatch software, and in 2004 shifted his career to analyzing publically traded equities, hedge funds, private companies, and various other assets for the purpose of direct investing and providing investment advice. Jamil holds a B.Sc. (computer science) from Simon Fraser University, an MBA from the Richard Ivey School of Business at the University of Western Ontario, and is a Chartered Financial Analyst charterholder.
Mr. Murji says, “I started my career in the logistics industry, so coming to Inter-Urban is returning back to my roots. Retiring President and CEO Walter McDonald along with his complement of nearly 50 staff and independent contractors have built an excellent company to be proud of.”
“The acquisition of Inter-Urban is consistent with InnHouse’s strategic focus to diversify assets through direct investments in operating companies”, noted InnHouse CEO Salim Karim. “We look forward to growing and investing in Inter-Urban, and to further executing on InnHouse’s broader plan to continue acquiring companies within a diverse set of industries.”