TerraVest Capital Inc. (TSX: TVK) has acquired all of the issued and outstanding shares of MaXfield Group Inc. for $21.0 million subject to a working capital adjustment.
Crossfield, Alberta based MaXfield is primarily focused on manufacturing high quality processing, storage and transportation equipment for the propane, anhydrous ammonia and oil and gas markets.
“MaXfield is a natural extension of TerraVest’s existing operations and solidifies the Company as a leading manufacturer of equipment for the propane and anhydrous ammonia markets across Canada. In addition, MaXfield is complementary with our existing operations in Western Canada,” said Dustin Haw, Chief Executive Officer at TerraVest.
TerraVest will acquire MaXfield using existing cash and credit facilities.
TerraVest Capital is an Industrial Manufacturer focused on acquiring businesses with strong cash flow generation, long track records of operating success, strong balance sheets and committed management teams.
photo credit: MaXfield