CALGARY, Alberta, June 28, 2019 (GLOBE NEWSWIRE) -- ClearStream Energy Services Inc. ("ClearStream" or the "Corporation") (TSX: CSM) is pleased to announce the completion by its wholly-owned subsidiary, ClearStream Energy Holdings LP ("CEHLP"), of its previously announced acquisition of certain assets of the production services division (the "Production Services Business") formerly operated by AECOM Production Services Ltd. and certain of its affiliates (the "AECOM Transaction"). The AECOM Transaction was completed for an aggregate purchase price of approximately $42 million comprised of $18.2 million for the assets and approximately $23.8 million for the working capital. Concurrent with the closing of the AECOM Transaction, CEHLP also completed its previously announced acquisition of all of the issued and outstanding shares of Universal Weld Overlays Inc. ("UWO") for a purchase price of approximately $12 million, subject to deferred consideration and earn-out adjustments for an aggregate purchase price of up to $15.3 million (the "UWO Transaction", and together with the AECOM Transaction, the "Transactions").
ClearStream Announces Completion of Previously Announced Strategic Acquisitions and Concurrent Equity and Debt Financings
Jun 29, 2019
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