Entrec acquires Tiggo Transport
09 November 2012
Canada-based Entrec Corporation has acquired heavy haul transport and lifting specialist Tiggo Transport Ltd. Based in Grande Prairie, Alberta, Tiggo has been providing its services to the oil and gas industry since 1999. Its $10 million fleet includes six crane mounted picker trucks, 25 tractor units, 25 support vehicles, and more than 60 trailers.
“Tiggo is a very well managed and highly respected company in the transportation industry and we look forward to welcoming David [Friesen, Tiggo founder and president] and his team into the Entrec family," said John Stevens, Entrec president and COO. “With Tiggo, Entrec will have strategically placed operating locations in all of our key markets throughout western Canada. With these hubs in place, we believe we are well positioned to achieve significant organic revenue growth over the coming years,” Stevens continued.
“Our merger with Entrec sets the stage for the continued expansion of our services throughout the Peace Country in north-east BC and north-west Alberta,” commented David Friesen. Friesen will continue to manage Tiggo’s operating locations in Grande Prairie, Alberta and Dawson Creek, British Columbia.
In the year to 31 March 2012, Tiggo earnings before interest, taxes, depreciation and amortization (EBITDA) were about $6 million, Entrec said.
