Tarpon Energy Services Ltd. announced today it has reached agreement to acquire the assets of Calgary-based Syntech Enerflex (Syntech), a business unit of Enerflex Ltd. Syntech is a leading supplier of electrical, instrumentation and controls services, and has over 400 personnel and 21 locations across western Canada.
Strategically aligned with Tarpon’s core electric and controls business and long-term goals and objectives, this transaction is expected to significantly accelerate Tarpon’s growth plan throughout western Canada and internationally. The acquisition is scheduled to close on September 17, 2010. The individual Syntech locations will continue to operate under the Syntech brand until they are integrated into Tarpon’s operations. All integration processes are expected to be completed by year end.
“This acquisition provides Tarpon’s Electric & Controls division with tremendous opportunities for growth through further development of its existing locations and expansion into several new operating areas” said John Henry, President & CEO of Tarpon Energy Services Ltd. “We look forward to merging these two safety oriented cultures and adopting the best practices of both organizations to ensure a safe environment for our employees. We welcome Syntech’s talented and experienced workforce to our organization and look forward to serving more customers while delivering an ever increasing quality of product.”