High Arctic Energy Services Acquires Delta Rental Services Ltd.
December 28, 2023
High Arctic Energy Services Inc. (TSX: HWO) has closed the acquisition of Delta Rental Services Ltd., a Red Deer, Alberta-based oilfield equipment rental company, for aggregate consideration of $7 million subject to earn-out provisions. The deal expands High Arctic's Canadian rentals footprint, brings Delta's assets, personnel and contracts into its operations, and is expected to materially increase Canadian revenues and provide operational synergies.
- Buyers
- High Arctic Energy Services Inc.
- Targets
- Delta Rental Services Ltd.
- Sellers
- Shareholders of Delta Rental Services Ltd.
- Industry
- Industrial Services
- Location
- Alberta, Canada
- Transaction Type
- Buyout
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