Le Lézard
Classified in: Mining industry, Oil industry, Business
Subject: MERGERS AND ACQUISITIONS (M&A)

Canadian Manufacturer and Distributor in Talks to Acquire Industry-Leading Service Company



LLOYDMINSTER, AB--(Marketwired - October 03, 2017) - Tecvalco International Ltd., owner of existing companies leading in their fields of manufacturing and distribution to the gas utility, petroleum, and water industries, today announced that it has entered into an agreement to acquire Guest Controls (2001) Ltd., an Alberta-based provider of electrical, instrumentation, and combustion solutions. The transaction is expected to close in Q4 of 2017. Financial details were not disclosed.

Guest Controls (2001) Ltd. is a multi-faceted service and supply company operating in the oil and gas industry with three service offices in Alberta and Saskatchewan.

It was noted that the company will continue to operate under the name of Guest Controls (2001) Ltd., and the president and the management team will remain the same. While Guest will be under new ownership, the company will carry on "business as usual."

"The Guest acquisition will provide us with an industry-leading service company that will complement our existing manufacturing and distribution divisions," said Mike Menger, President and CEO of Tecvalco International. "This acquisition creates tremendous opportunity to drive growth and advancement in multiple facets within our organization."

"We have always focused on treating our staff and employees as family. I am thrilled that Menger and his companies have these same values," said Fred Sirett, President of Guest Controls (2001) Ltd. "I am truly excited to become part of a larger effort and to see the benefits that this combined will bring to our customers."

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News published on 3 october 2017 at 16:33 and distributed by: