Trican Well Service completed the acquisition of Iron Horse Energy Services for $231m.

Trican Well Service, a provider of pressure pumping and other oilfield services within the Canadian marketplace, completed the acquisition of Iron Horse Energy Services, a fracturing and coiled tubing services provider operating primarily in the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays in the Western Canadian Sedimentary Basin, for $231m. “Iron Horse is one of few North American fracturing companies that has consistently demonstrated operational and financial performance that aligns with Trican. The Acquisition will provide significant EBITDA, free cash flow and earnings accretion to Trican shareholders. It will also expand Trican’s customer base into both conventional and unconventional plays in Alberta and Saskatchewan,” Brad Fedora, Trican President and Chief Executive Officer.