#Energy
and #Infrastructure #Stock News: ENTERPRISE GROUP (TSX: $E.TO) ANNOUNCES $9.1
MILLION EQUIPMENT SUPPLY AND SERVICES AGREEMENT; @EnterpriseGrp
January 8, 2018 - St.
Albert, AB – Enterprise
Group, Inc. (“Enterprise,” or “the Company”) [TSX: E], a consolidator of services to the energy sector today
announced that it has secured a one-year rental equipment supply and services
agreement valued at C$9.1 million with one of Canada’s largest energy producers
focused on growing its strong portfolio of diverse resource plays.
“Starting out 2018 with this deal
is a testament to the success of our business approach over the last several
quarters,” stated Desmond O’Kell, SVP and Director. “We look forward to working
closely with this partner as well as continuing to strategically manage our
growing business and expanding our influence and footprint.”
Enterprise is a leader in the infrastructure and
industrial rental markets through its four subsidiaries.
Throughout 2017, Enterprise has
experienced a meaningful increase in activity from its existing customers
coupled with a substantial surge in new customers which has resulted in
increased market share for its business units. Management’s efforts to
streamline and maximize efficiencies have translated into improved margins,
positive cash-flow quarter after quarter and a return to profitability in Q3 2017.
Management feels that Enterprise
is within a very select group of producers and service providers that have aggressively
adapted their organizations to operate successfully in the current commodity
price environment.
For questions or additional
information, please contact:
Leonard Jaroszuk: President & CEO, or
Desmond O’Kell: Senior Vice-President
contact@enterprisegrp.ca
780-418-4400
Leonard Jaroszuk: President & CEO, or
Desmond O’Kell: Senior Vice-President
contact@enterprisegrp.ca
780-418-4400
About Enterprise Group, Inc.
Enterprise
Group, Inc. is a consolidator of construction services companies operating in
the energy, utility and transportation infrastructure industries. The Company’s
focus is primarily construction services and specialized equipment rental. The
Company’s strategy is to acquire complementary service companies in Western
Canada, consolidating capital, management, and human resources to support
continued growth. Enterprise acquired Artic Therm International Ltd. in
September 2012, Calgary Tunnelling & Horizontal Augering Ltd. in June 2013,
Hart Oilfield Rentals in January 2014, and Westar Oilfield Rentals Inc. in
October 2014. More information is available at the Company’s website, www.enterprisegrp.ca. Also, today’s filings can be found on www.sedar.com
Forward Looking Information
Certain statements
contained in this news release constitute forward-looking information. These
statements relate to future events or the Company’s future performance. The use
of any of the words "could", "expect", "believe",
"will", "projected", "estimated" and similar
expressions and statements relating to matters that are not historical facts
are intended to identify forward-looking information and are based on the
Company's current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially. The Company's
Annual Information Form and other documents filed with securities regulatory
authorities (accessible through the SEDAR website www.sedar.com) describe the
risks, material assumptions and other factors that could influence actual
results and which are incorporated herein by reference. The Company disclaims
any intention or obligation to publicly update or revise any forward-looking
information, whether as a result of new information, future events or
otherwise, except as may be expressly required by applicable securities laws.
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