Engineered Transportation International CEO Ryan Rockafellow is excited about the company’s new era.
Canadian firm TerraVest Industries, a publicly traded manufacturer of transportation equipment, this week announced its acquisition of the Heil Trailer and Polar Tank Trailer parent in a transaction intended to expand manufacturing capabilities, increase operational efficiencies, and enhance service offerings to the specialty transport sector in North America.
“This partnership represents a significant strategic alignment for EnTrans and TerraVest, paving the way for numerous opportunities that will drive sustainable growth for our businesses,” Rockafellow told TBB partner publication Bulk Transporter.
“By combining our strengths, we will harness complementary capabilities and resources that enhance our operational efficiencies and market reach.”
TerraVest, based in Toronto, Ontario, serves mission-critical sectors, including petroleum, chemical, food-grade, and cryogenic transportation and storage. Its brands include Mississippi Tank Company, Advance Engineered Products, Maxfield, Pro-Par, and Signature Truck Systems.
Entrans was acquired for US$546 million at closing, plus contingent earn-out consideration based on the future financial performance of Entrans in the 12-month period following the date of acquisition of up to US$46 million.
This represents TerraVest’s largest acquisition to date, with the purchase price representing a multiple of approximately 7.0x to Entrans’ trailing twelve-month EBITDA.
For additional coverage, please see Jason McDaniel's story on BulkTransporter.com or read the upcoming print edition of TBB.
