Vertex Resource Group Ltd has bought Ignite Energy Services Ltd, Glacier Ridge Ventures Ltd and Tar Energy Services Ltd for an undisclosed sum. The companies are providers of fluid production hauling and management services, and operate vacuum trucks, pressure trucks, hydro-vac trucks, steam trucks and water trucks. The Sherwood Park, Alberta-based Vertex said the deal will expand the depth of its oilfield services division and environmental consulting and safety and medical divisions. Calgary’s Ignite was a platform investment of Canadian private equity firm 32 Degrees Capital. It acquired Glacier and Tar in 2014, according to a LinkedIn profile.
Vertex Acquires Fluid Management & Logistics Companies
SHERWOOD PARK, AB, Sept. 1, 2015 /CNW/ – Vertex Resource Group Ltd. (“Vertex”) is pleased to announce that it has acquired Ignite Energy Services Ltd. (“Ignite Energy”), Glacier Ridge Ventures Ltd. (“Glacier Ridge”) and Tar Energy Services (“TAR”). These companies provide fluid production hauling and management services, and operate vacuum trucks, pressure trucks, hydro-vac trucks, steam trucks and water trucks. This acquisition will expand the depth of Vertex’s Oilfield Services Division by creating a new Fluid Management & Logistics service offering, as well as broaden the breadth of Vertex’s Environmental Consulting and Safety & Medical Divisions.
This acquisition expands Vertex’s geographical presence with new office locations in Valleyview, Rycroft, Swan Hills, and Whitecourt, Alberta. This acquisition will greatly enhance Vertex’s already well established emergency spill response, drilling waste, and remediation services, in addition to enlarging Vertex’s surface rental fleet.
Terry Stephenson, President of Vertex stated: “We welcome the Ignite Energy management team and staff to Vertex and look forward to working with them to strengthen Vertex’s service offerings in Northwestern Alberta and Northern British Columbia.”
Brian Butlin, Chairman & CEO of Vertex stated: “Producers are looking for ways to lower costs in today’s difficult market and by bundling services in a meaningful geographical footprint, Vertex will be able to help them accomplish this goal.”
Since 1976, Vertex has been a leading North American provider of environmental and industrial services. We service clients in the oil and gas, midstream and utilities, mining, forestry and agriculture, and the municipality and real estate sectors with three operating divisions: consulting, construction and oilfield services.
For further information: Terry A, Stephenson, President, 780.416.5975, firstname.lastname@example.org, www.vertex.ca
Photo courtesy of Vertex Resource Group Ltd