PE-backed Aveda to acquire Precision Drilling's U.S. rig moving assets
Aveda Transportation and Energy Services Inc (TSXV: AVE) has agreed to purchase the U.S.-based rig moving assets of Precision Drilling Corp (TSX: PD) for US$24.0 million. The transaction, which involves the purchase of rig moving equipment, including bed/tandem trucks, tractors, trailers, loaders and cranes, is expected to be completed by July 1. Based in Calgary, Aveda is a provider of oilfield hauling services and equipment rentals to the energy industry. The company's largest shareholder is Canadian family-owned private equity firm Werklund Capital, which first invested in Aveda in 2010.
16 June 2014•5 mins read
