The transaction will be financed from available bank credit facilities and is expected to be accretive to CE Franklin shareholders.
Jen recorded revenues of approximately C$22 million over the past year. It has been acquired by CE Franklin on a debt-free basis.
Michael West, chairman and CEO of CE Franklin, said: Jen Supply is a leading supplier to the oil and gas industry in east-central Alberta with a reputation for quality service.
The combination of Jen Supply and CE Franklin’s operations and talent in the east-central Alberta market will strengthen CE Franklin’s market presence and reach, resulting in improved customer service capability and operating efficiencies.
