Trican Announces Closing of Iron Horse Acquisition
Trican Well Service (TSX: TCW) has completed its acquisition of Iron Horse Energy Services, a premium provider of fracturing and coiled tubing services in the Western Canadian Sedimentary Basin. The transaction value consists of $77.35 million in cash and approximately 33.76 million Trican common shares.
Following the acquisition, Iron Horse's Chairman and CEO, Tom Coolen, has been appointed to Trican's Board of Directors. The newly issued Trican common shares are expected to be listed on the TSX around August 29, 2025, pending final TSX approval.
Trican Well Service (TSX: TCW) ha completato l'acquisizione di Iron Horse Energy Services, fornitore di alto livello di servizi di fratturazione e tubing avvolto nella Western Canadian Sedimentary Basin. Il valore della transazione comprende 77,35 milioni di dollari in contanti e circa 33,76 milioni di azioni ordinarie Trican.
In seguito all'acquisizione, il presidente e CEO di Iron Horse, Tom Coolen, è stato nominato nel consiglio di amministrazione di Trican. Le nuove azioni ordinarie Trican dovrebbero essere quotate alla TSX intorno al 29 agosto 2025, soggette all'approvazione finale della TSX.
Trican Well Service (TSX: TCW) ha completado la adquisición de Iron Horse Energy Services, un proveedor de primer nivel de servicios de fracturamiento y tubing espiralado en la Cuenca Sedimentaria del Oeste de Canadá. El valor de la transacción incluye 77,35 millones de dólares en efectivo y aproximadamente 33,76 millones de acciones ordinarias de Trican.
Tras la adquisición, el presidente y CEO de Iron Horse, Tom Coolen, ha sido nombrado en la junta directiva de Trican. Se espera que las nuevas acciones ordinarias de Trican se coticen en la TSX alrededor del 29 de agosto de 2025, pendiente de la aprobación final de la TSX.
Trican Well Service (TSX: TCW)는 서부 캐나다 퇴적 분지에서 프랙쳐링 및 코일드 튜빙 서비스를 제공하는 프리미엄 업체인 Iron Horse Energy Services의 인수를 완료했습니다. 거래 가치는 현금 7,735만 달러와 약 3,376만 주의 Trican 보통주로 구성됩니다.
인수 후 Iron Horse의 회장이자 CEO인 Tom Coolen이 Trican 이사회에 임명되었습니다. 새로 발행된 Trican 보통주는 TSX의 최종 승인에 따라 2025년 8월 29일경 상장될 예정입니다.
Trican Well Service (TSX: TCW) a finalisé l'acquisition de Iron Horse Energy Services, un prestataire de premier plan de services de fracturation et de tubage hélicoïdal dans le Western Canadian Sedimentary Basin. La transaction se compose de 77,35 millions de dollars en numéraire et d'environ 33,76 millions d'actions ordinaires Trican.
Après l'acquisition, le président et PDG d'Iron Horse, Tom Coolen, a été nommé au conseil d'administration de Trican. Les nouvelles actions ordinaires Trican devraient être cotées à la TSX aux alentours du 29 août 2025, sous réserve de l'approbation finale de la TSX.
Trican Well Service (TSX: TCW) hat die Übernahme von Iron Horse Energy Services abgeschlossen, einem hochwertigen Anbieter von Fracking- und Coiled-Tubing-Dienstleistungen im Western Canadian Sedimentary Basin. Der Transaktionswert besteht aus 77,35 Millionen US-Dollar in bar und rund 33,76 Millionen Trican-Stammaktien.
Nach dem Erwerb wurde Iron Horse’ Chairman und CEO, Tom Coolen, in den Verwaltungsrat von Trican berufen. Die neu ausgegebenen Trican-Stammaktien sollen voraussichtlich um den 29. August 2025 an der TSX gelistet werden, vorbehaltlich der endgültigen Zustimmung der TSX.
- Strategic acquisition of premium fracturing and coiled tubing services provider
- Expansion of operations in Western Canadian Sedimentary Basin
- Addition of experienced leadership with Tom Coolen joining Board of Directors
- Significant cash outlay of $77.35 million
- Substantial share dilution with issuance of 33.76 million new shares
- Integration risks and regulatory approval requirements
Calgary, Alberta--(Newsfile Corp. - August 27, 2025) - Trican Well Service Ltd. (TSX: TCW) ("Trican") is pleased to announce the closing of the previously announced acquisition of Iron Horse Energy Services ("Iron Horse") (the "Acquisition"). Iron Horse is a premium provider of fracturing and coiled tubing services with operations in the Western Canadian Sedimentary Basin.
Pursuant to the Acquisition, Trican has acquired all of the issued and outstanding common shares of Iron Horse. Under the terms of the Acquisition, Iron Horse shareholders received approximately
The Trican common shares issued pursuant to the Acquisition are expected to be listed on the TSX on or about August 29, 2025, upon receipt of TSX final approval.
FORWARD-LOOKING STATEMENTS
This document contains certain forward-looking information based on Trican's current expectations, estimates, projections and assumptions that were made by Trican in light of information available at the time the statement was made. Forward-looking information that addresses expectations or projections about the future, and other statements and information about Trican's strategy for growth, expected and future expenditures, costs, operating and financial results, future financing and capital activities are forward-looking statements. Forward-looking information in this press release is identified by the use of terms and phrases such as "expect" and other similar terms and phrases. This forward-looking information speaks only as of the date of this document, and we do not undertake to publicly update this forward-looking information except in accordance with applicable securities laws. This forward-looking information includes, among others:
expected listing date of Trican common shares issued pursuant to the Acquisition; and
the anticipated benefits of the Acquisition.
Readers are cautioned not to place undue reliance on forward-looking information as Trican's actual results may differ materially from those expressed or implied. Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Trican and others that apply to the industry generally. Material factors or assumptions on which the forward-looking information in this press release is based include, among others, the ability of Trican to satisfy the TSX conditions for the listing of the Trican common shares to be issued pursuant to the Acquisition within expected timelines.
Additional information about assumptions, risk factors, uncertainties on which the forward-looking information is based and that could cause Trican's actual results to differ materially from any estimates or projects of future performance or results expressed or implied by such forward-looking statements, including, but not limited to, ability of Trican to satisfy the TSX conditions for the listing of the Trican common shares to be issued pursuant to the Acquisition, the failure to achieve the anticipated benefits of the Acquisition. Readers are also referred to the risk factors and assumptions described in other documents filed by Trican from time to time with securities regulatory authorities.
ABOUT TRICAN
Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion and production cycles. Our team of technical experts provide state-of-the-art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada.
Requests for further information should be directed to:
Bradley P.D. Fedora
President and Chief Executive Officer
Scott E. Matson
Chief Financial Officer
Phone: (403) 266-0202
2900, 645 - 7th Avenue S.W. Calgary, Alberta T2P 4G8
Please visit our website at www.tricanwellservice.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264221
FAQ
What is the total value of Trican's acquisition of Iron Horse Energy Services?
When will the new Trican shares from the Iron Horse acquisition be listed on TSX?
Who from Iron Horse is joining Trican's leadership team?
What services does Iron Horse Energy Services provide?
How will the Iron Horse acquisition impact Trican's market presence?
