Express Mondor Acquires W.J. Deans Transportation With Support From National Bank Private Investment and Desjardins Capital

Montreal, December 16, 2022



Express Mondor announced the acquisition of W.J. Deans Transportation, making the new company one of Canada's largest flatbed trucking groups. This transaction, which unites the two Quebec-based companies, was carried out with support from National Bank Private InvestmentTM (NBPI) and Desjardins Capital, which will become equal minority shareholders of Express Mondor and its affiliated companies.

Express Mondor was founded in 1995 by brothers Billy, Dany and Éric Mondor. It specializes in oversized loads and heavy equipment hauling. It operates the subsidiaries Express Mondor (oversized transportation, particularly in the steel and agriculture sectors), Transport L’Épiphanie (heavy transportation services for major infrastructure projects and the heavy machinery sector) and Les Établissements Dubois (specialized in such sectors as entertainment and metals). The group has a fleet of 130 trucks and 425 trailers driven by experienced truckers that embody operational discipline and safety. The company was ranked among the 100 largest SMEs in Quebec by Les Affaires and operates one of Quebec's 20 largest fleets, according to the 2022 ranking from Transport Routier.

Bill Deans founded W.J. Deans Transportation in 1986. The company specializes in the transportation of metals using cutting-edge equipment. It is headquartered in Delson and has a terminal in Stoney Creek, Ontario. In addition to the 35 company-exclusive owner operators, W. J. Deans Transportation has a fleet of 40 trucks and 125 trailers, as well as a team with in-depth experience in the transportation of heavy metallurgical goods. The leadership of the company has stayed in the family. Its top executives, Victoria and Valérie Deans will remain with the new company to support the transition.

"The specialized trucking industry remains fragmented and offers many opportunities for an organization like ours, with a recognized track record, a strong brand image, a solid financial base and a clear growth plan. The acquisition of a high-profile company like W.J. Deans Transportation, which already serves a number of U.S. states and major clients, will allow us to increase our presence across North America. I want to welcome the whole W.J. Deans Transportation team and thank them for trusting us. Together, we can go farther," said Éric Mondor, President and Chief Executive Officer of Express Mondor.

"We're very proud of the high-level expertise we've built at W.J. Deans Transportation over the past 35 years. This expertise will continue to grow as part of Express Mondor, a transportation company that shares our passion and values. We are enthusiastic about amplifying our existing synergies and accelerating our growth plan with our team," said Victoria and Valérie Deans, respectively, President and Vice-President of W.J. Deans Transportation.

"Express Mondor has an excellent reputation. The company focuses on the needs of its clients and will now achieve a critical size that will enable it to take on large-scale projects," said Luc Ménard, Executive Vice-President, Managing Director and Head of Private Investments at National Bank. "NBPI supports dynamic entrepreneurs with a distinctive vision for developing their companies. It also offers investing retail clients of National Bank local impact and diversified investment opportunities by allowing them to join us in helping these companies grow."

"By participating in several key structural projects such as the construction of the Champlain Bridge and the REM, as well as a number of major energy projects, Express Mondor has built an outstanding reputation in the oversized transportation industry," said Marie-Hélène Nolet, Chief Operating Officer at Desjardins Capital. "Acquiring W.J. Deans Transportation will allow the company to achieve a better position in Ontario and diversify its client base and services. Desjardins Capital is very proud to support the growth of this family business."


About National Bank of Canada
With $404 billion in assets as at October 31, 2022, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 29,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at or via social media such as Facebook, LinkedIn and Twitter.


About National Bank Private Investment
National Bank Investments Inc. does business under the name National Bank Private Investment and manages the National Bank SME Growth Fund, L.P. National Bank Private Investment (NBPI) is a venture capital firm that offers diversified investment opportunities to a clientele of seasoned investors from the National Bank network. The capital raised provides support to growing companies that wish to remain in control of their development and work with long-term partners.

TM National Bank Private Investment is a registered trademark of National Bank of Canada.


About Desjardins Capital 
With nearly 50 years of expertise, Desjardins Capital aims to value, support, and retain SMEs in Quebec. With $2.9 billion in assets under management as of June 30, 2022, Desjardins Capital contributes to the sustainability of more than 750 companies, cooperatives, and funds in various sectors and from all over Quebec. In addition to helping maintain and create thousands of jobs, this Desjardins Group subsidiary offers entrepreneurs access to a vast business network to support the growth of their businesses. For more information, visit our website



Stéphanie Rousseau
Senior Advisor, Public Affairs and Corporate Social Responsibility
National Bank of Canada

Tel.: 514-394-5684