ENTREC Corporation Acquires Capstan Hauling
ENTREC Corporation, a heavy haul transportation and crane solutions provider, is pleased to announce that it has completed the acquisition of Capstan Hauling .
Based in Grande Prairie, Alberta, Capstan is a leading provider of heavy haul transportation services to the oil and natural gas industry in north-west Alberta and north-east B.C. Capstan has approximately 45 employees and lease operators and operates an extensive equipment fleet valued in excess of $9.0 million.
Capstan’s fleet consists of mobile cranes, picker trucks, winch trucks and a wide variety of multi-wheeled trailers.
“With our outlook improving for the oil and natural gas industry in western Canada, this acquisition is very timely for ENTREC,” said John M. Stevens, ENTREC’s President and CEO.
“Capstan has a very strong reputation for customer service and when combined with our existing operations in the region, we will be well positioned to benefit from improving market fundamentals. This includes the potential for increased demand for our services related to natural gas exploration and production should LNG Canada proceed with the construction of a Liquefied Natural Gas (LNG) facility in Kitimat.”
In conjunction with the acquisition, ENTREC has also merged its Grande Prairie oilfield transportation division with Capstan and will operate the combined business under the Capstan brand.
The shareholders of Capstan have also retained a large ownership interest in the combined business post-acquisition and the existing Capstan management will lead and manage the combined business going forward.
