CALGARY, A.B. — Strad Energy Services Ltd. announced yesterday that it has acquired two private companies based in Fort St. John.
The surface rental equipment and personnel of these two private companies will immediately be combined with Strad, which operates one of the newest, largest and most diverse fleets of rental equipment in the Deep Basin from key locations in Fort St. John, Dawson Creek and Grande Prairie. Strad says that the acquisition will create a stronger, more diverse rental platform to better service customers focused in the Montney and Duvernay plays in the Peace Region.
The cash and stock deal for the purchases included 561,798 Strad class A common shares and $1.75 million in cash, for a total transaction value of approximately $2.75 million.