CEDA has acquired Joe Loomis Trucking Ltd, a Dawson Creek, British Columbia operator of a fleet of hydro vacuum and combination vacuum units. No financial terms were disclosed. CEDA, a Calgary-based industrial services company providing maintenance, turnaround, construction and project services, said the acquisition will expand its offering to oil and gas customers. CEDA is a portfolio investment of OMERS Private Equity, the private equity arm of the Ontario Municipal Employees Retirement System. OMERS acquired the business from Precision Drilling Corp for $274 million in 2005.
CEDA Acquires Joe Loomis Trucking Ltd.
CALGARY, Nov. 16, 2017 /CNW/ – Alberta – CEDA, a leading provider of maintenance and turnaround services in the upstream and downstream oil & gas and petrochemicals market has completed the necessary steps to acquire Joe Loomis Trucking Ltd. (JLT). JLT operates a high quality fleet of hydro vacuum and combination vacuum units out of Dawson Creek, British Columbia in the heart of the prolific Montney natural gas formation.
Since 2006, JLT has built a strong and established market position in production and completions work with blue chip oil and gas operators in the region. The combination with CEDA will provide JLT with an expanded suite of maintenance and turnaround services and technical resources for significant growth opportunities in the Montney region that currently produces one third of Western Canada’s natural gas.
“Joe Loomis Trucking has built an excellent reputation around safety, service quality and client satisfaction,” said Kevin Fleury, President and Chief Executive Officer of CEDA. “We have pursued this acquisition with great enthusiasm and we are confident that it will provide CEDA an opportunity to expand our respective offerings to existing clients, as well as a stronger capability and track record for us to pursue new clients in the prolific Montney/Deep Basin play.”
JLT Chief Executive Officer Joe Loomis, who will become the operational Vice President of this new region for CEDA, said: “We are excited to announce this transformational deal with CEDA. Our business in the Dawson Creek area becomes a key part of a highly respected North American group, offering exciting opportunities for a suite of new services to our current customers and growth opportunities for the talented team here at Joe Loomis Trucking.”
With approximately 2,000 employees, CEDA is a leading industrial services company providing maintenance, turnaround, construction and project services to clients in the oil & gas, pipeline, power, pulp & paper, chemical, mining, municipal and steel markets for over 44 years. CEDA has offices throughout North America, and delivers more than 120 distinct services to support critical operations at its clients’ facilities. CEDA is committed to delivering world-class solutions through innovative technologies, equipment and processes, always with safety top of mind. For more information, visit www.ceda.com.
About Joe Loomis Trucking Ltd.
Joe Loomis Trucking, based in Dawson Creek, British Columbia, owns and operates a high quality fleet of hydro vacuum and combination vacuum units. The team at Joe Loomis Trucking is dedicated to providing a first class customer experience based on safety and integrity to oil and gas operators throughout the region. For more information, visit www.joeloomistrucking.com.
For further information: please contact: Trish Kloberdanz, Corporate Communications Manager, CEDA, Direct: 403-476-5643, Cell: 403-808-5239, email@example.com
Photo courtesy of CEDA