Business
Trican to Acquire Complementary Private Completions Services Company and Announces 10% Increase to Base Dividend
Calgary, Alberta--(Newsfile Corp. - July 3, 2025) - Trican Well Service Ltd. (TSX: TCW) ...
About this update from Trican Well Service Ltd.
[{"type":"text","content":"Trican to Acquire Complementary Private Completions Services Company and Announces 10% Increase to Base DividendCalgary, Alberta--(Newsfile Corp. - July 3, 2025) - Trican Well Service Ltd. (TSX: TCW) (\"Trican\") is pleased to announce that it has entered into an agreement to acquire all of the issued and outstanding shares of Iron Horse Energy Services (\"Iron Horse\") for approximately $77.35 million in cash and approximately 33.76 million common shares of Trican (the \"Acquisition\"). Iron Horse is a privately owned 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 (\"WCSB\"). With a demonstrated track record of financial and operational excellence spanning over 20 years, Iron Horse extends Trican's fracturing footprint and adds industry leading coiled tubing integrated fracturing expertise. In addition to the Acquisition, Trican is pleased to announce that the board of directors of Trican (the \"Board\") has approved a 10% increase to Trican's dividend following and pending the closing of the Acquisition. The Acquisition enhances Trican's position as a leading energy services company, expanding its operational expertise in coiled tubing integrated fracturing in Alberta and Saskatchewan. The Acquisition will add over four fracturing spreads and 10 coiled tubing units, which will augment Trican's leading services offering throughout the WCSB across the drilling, completion, and production lifecycles. Iron Horse has long been recognized as a premium provider of fracturing services, with a history of operational and financial results that align with Trican. As a result, the Acquisition is expected to deliver immediate and significant accretion to Trican shareholders, as well as support an increase to Trican's dividend.\"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,\" said Brad Fedora, Trican's President and Chief Executive Officer. Chairman a...