Canada’s TerraVest Industries, owner of Advance Engineered Products, has announced its acquisition of Entrans International.
With it, come the tanker trailer and propane body brands Heil Trailer, Polar Tank Trailer, Kalyn Siebert and Jarco.
The acquisition was valued at US$546 million plus earn-out considerations based on future performance.
TerraVest says the acquisition gives it complementary product lines that will allow for cross-selling opportunities across North America as well as world-class manufacturing facilities. It sees multiple growth avenues through new cryogenic product lines and the purchase gives it added geographical diversification.
TerraVest is listed on the TSX in Canada.
“Entrans is a very strategic fit for TerraVest, with the broadest and most reputable product suite in the industry, and a world-class manufacturing footprint,” Dustin Haw, CEO of TerraVest said in a release.
“Together with Advance Engineered Products and our existing compressed gas transportation product offering, TerraVest is a market-leader in the North American tank trailer industry. This acquisition is transformational for TerraVest providing multiple growth opportunities for the combined company and I am very excited to work with Ryan Rockafellow and the rest of the Entrans management team as they grow the business.”
“Entrans International has built a strong reputation by delivering high-performance solutions to customers across the world,” added Ryan Rockafellow, CEO of Entrans. “This partnership allows us to build on that success by expanding our capabilities, growing our product offerings and strengthening our commitment to delivering industry-leading transportation solutions.”
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