TriWest Capital Partners has acquired ATCO Emissions Management from its parent company ATCO. No financial terms were disclosed for the transaction that is expected to be completed on December 31, 2015.
CALGARY, ALBERTA–(Marketwired – Dec. 29, 2015) – ATCO announced today the sale of its subsidiary division, ATCO Emissions Management, to TriWest Capital Partners, a leading Canadian private equity firm based in Calgary, Alberta.
The sale demonstrates the continuation of ATCO’s long-term strategy of divesting non-core assets and redeploying capital to its core businesses in Structures & Logistics, Electricity and Pipelines & Liquids.
In the transaction, TriWest will acquire all of the company’s global operations in Canada, the U.S. and Mexico. Included in the sale will be the transfer of the company’s current contracts and employees who will remain in their roles under the new ownership. The transaction is anticipated to close on Dec. 31, 2015.
With nearly 8,000 employees and assets of approximately $19 billion, ATCO is a diversified global corporation delivering service excellence and innovative business solutions through vertically integrated global business units engaged in Structures & Logistics (workforce housing, innovative modular facilities, construction, site support services, and logistics and operations management); Pipelines & Liquids (natural gas infrastructure development, transmission and distribution, and liquids and water infrastructure development, storage and processing); and Electricity (power generation, distributed generation, and electricity infrastructure development and transmission). More information can be found at www.atco.com.