TerraVest Capital Inc. acquires MaXfield Group Inc.

TerraVest Capital Inc. acquired all of the issued and outstanding shares of MaXfield Group Inc., a privately-owned Alberta, Canada-based manufacturer of processing, storage and transportation equipment for propane, anhydrous ammonia, and oil and gas markets.

The acquisition was made for $21 million, subject to a working capital adjustment. TerraVest says it will acquire MaXfield using existing cash and credit facilities.

“MaXfield is a natural extension of TerraVest’s existing operations and solidifies the company as a leading manufacturer of equipment for the propane and anhydrous ammonia markets across Canada,” says Dustin Haw, CEO of TerraVest. “In addition, MaXfield is complementary with our existing operations in Western Canada.”

TerraVest Capital companies include Fischer Tanks, Granby Industries, Pro-Par Inc. and Signature Truck Systems.