Entrec eyes Bakken with Taylor deal
25 January 2013Heavy lift and transportation specialists, Entrec, has acquired the business and assets of North Dakota-based company, Taylor Crane Services.
Entrec acquired Taylor Crane Services, which is located in the heart of the Bakken oil formation, effective of 31 December 2012. The acquisition includes a fleet of seven cranes, including all-terrain, carry decks, and hydraulic truck mounted cranes.
The equipment fleet also includes several trailers and other support equipment used to support its crane operation.
"The acquisition of Taylor Crane, combined with our current operations in the Bakken, will provide us with the scale we need to better compete and grow our business in this region," said John Stevens, Entrec's president and COO. "We are very pleased to welcome Terry Taylor and his employees to the Entrec family".
During the twelve month period that ended in December 2012, Entrec estimated that Taylor Crane generated normalised earnings before interest, taxes, depreciation and amortisation of $1.7M.
In March 2012, Entrec announced its acquisition of the Mains crane group of Nisku, Alberta, for $56.2M. Mains ran a fleet of over 70 cranes, the largest of which was a 500t Manitowoc crawler crane with Maxer attachment. The business also operated a 92 unit transportation fleet.
