TransForce Acquires Certain Assets of Peak USA Energy Services, Ltd.
Montreal, Quebec, April 19, 2012 – TransForce Inc. (TSX: TFI), a North American leader in the transportation and logistics industry, today announced that, through its subsidiary I.E. Miller Services, Inc, it has acquired certain assets of Peak USA Energy Services, Ltd. (“Peak USA”). Peak USA, a subsidiary of Nabors Industries Ltd. (NYSE: NBR), is a diversified oilfield service company specializing in rig moving, custom heavy hauling, crane and rigging services, and oilfield transportation.
The acquired business spans two operating districts located in Alice and Kilgore, Texas, providing work to a combined total of about 75 employees. The transaction is valued at more than $10 million and is expected to generate annual revenues of approximately $25 million for TransForce.
“This asset acquisition further improves TransForce's offering to the energy services sector. These quality assets will increase our density in Texas, while also adding to our know-how. Through its disciplined acquisition strategy, TransForce will continue to seek opportunities to enhance its leadership in providing value-added services to the energy sector,” said Alain Bédard, Chairman, President and Chief Executive Officer of TransForce.