Phoenix expands wingspan in ‘berta patch

NISKU, Alta. — Phoenix Oilfield Hauling, one of the fastest growing oilsands service providers in Alberta, has acquired all of the operating assets of Marcels Truck Service — a privately owned company based in Slave Lake, Alta. that specializes in the transportation of products, materials, supplies, and equipment required for the exploration, development and production of petroleum resources using specialized trucks and trailers designed.

The acquisition ($6.9 million in cash and the issuance of 200,000 common shares of Phoenix) is an arms-length transaction.

The acquisition increases Phoenix’s fleet by 18 trucks to approximately 77 trucks and further expands the company’s operating footprint in the oilsands.

Phoenix also acquired Marcels’ real estate assets including a 15.57 acre yard and 16,060 square foot shop and office building for $2.7 million — $300,000 and a mortgage of $2.4 million back to the vendor.

Marcel Fournier, the founder of Marcels, will remain with the company focusing principally on developing the business from its new base of operations in Slave Lake.??”Marcels is a first class operation, well regarded by its customers, and represents an attractive point to expand our rig moving capabilities,” says Leo Provencher, president of Phoenix. “This is a business with over 36 years of successful operating history which both complements and expands our operating footprint.”