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Aveda Transportation and Energy Services Inc Announces Acquisition Of High Margin Rentals Business In Edson


Friday, 8 Nov 2013 07:34am EST 

Aveda Transportation and Energy Services Inc announced that it has acquired the shares of Lon Dan Enterprises Ltd., which carries on business as Belair Rentals, based out of Edson, Alberta. Aveda is acquiring 23 well-site shacks, 22 light towers, 43 pieces of safety matting, 19 rig mats, 16 environmental fuel tanks, other various rental assets and working capital for an initial purchase price of $4.0 million ($3.5 million in cash and $0.5 million in common shares of Aveda (the Common Shares)). An additional $0.5 million to $1.5 million in cash consideration is payable if the acquired business achieves certain EBITDA generation targets during the one-year period following closing. 

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