Element Technical Services acquires Wise Intervention Services
February 28, 2019
775.00 Thousand CAD
On February 28, 2019, Element Technical Services Inc. ("ETS") closed its acquisition of Wise Intervention Services Inc. ("WISE"). ETS entered into an amalgamation agreement with 2170671 Alberta Ltd. ("AcquisitionCo"), a wholly-owned subsidiary of ETS and WISE, pursuant to which AcquisitionCo and WISE amalgamated to form one corporation. As a result of this three-corner amalgamation, Element Technical Services Inc. acquired all of the issued and outstanding shares of WISE for an aggregate consideration of approximately $775,000.
ETS is a full service hydraulic fracturing, stimulation, and coil service company operating in Alberta's oil & gas sector.
McCarthy Tétrault advised ETS with a team led by Brian Bidyk, that included Niki Gill, Melissa Colborne, and Jamie Gibb.