Trican Well Service closes Iron Horse acquisition

Executive Summary

• Trican Well Service Ltd. has officially closed its acquisition of Iron Horse Energy Services, a provider of fracturing and coiled tubing services in the Western Canadian sedimentary basin.
• The transaction involved Trican acquiring all issued and outstanding common shares of Iron Horse.
• Iron Horse shareholders received a combination of cash and equity, and the CEO of Iron Horse has been appointed to Trican's board of directors.

Key Details

• Transaction Structure: Trican acquired all issued and outstanding common shares of Iron Horse Energy Services.
• Consideration: Iron Horse shareholders received approximately $77.35 million in cash and approximately 33.76 million common shares of Trican.
• Target Profile: Iron Horse is a premium provider of fracturing and coiled tubing services with operations in the Western Canadian sedimentary basin.
• Governance Update: Tom Coolen, chairman and chief executive officer of Iron Horse, has been appointed to Trican’s board of directors following the closing.
• Share Listing: The Trican common shares issued as part of the acquisition are expected to be listed on the TSX on or about August 29, 2025, pending final TSX approval.

Notable Quotes

• "Following the successful closing of the acquisition, Trican is pleased to announce the appointment of Tom Coolen, chairman and chief executive officer of Iron Horse, to its board of directors."