September
30, 2008
PIPEWORX
LTD. ANNOUNCES ACQUISITION AND PARTNERSHIP WITH WOLF
PROJECTS LTD.
It
is with great pleasure that
Pipeworx Ltd., a
leading pipeline and facility contractor based in
Spruce Grove, Alberta announces that it has acquired
100% of the shares of Wolf Projects Ltd.
Pipeworx
Ltd. was
founded in 2004 as Horseman Energy Services in Dawson
Creek, British Columbia. In September of 2007, Horseman
acquired the Kellam group of companies of Spruce Grove,
Alberta and rebranded under the
Pipeworx banner.
Wolf Projects is an Okotoks-based facility and pipeline
contractor operating across the WCSB but primarily
focused in Southern Alberta and Saskatchewan. These are
key areas that complement the existing geographic
coverage of
Pipeworx.
Each of Kellam and Wolf operate as wholly owned
subsidiaries of
Pipeworx,
with
Pipeworx providing
strategic direction and management.
Together, the three companies now have field offices or
bases of operation in British Columbia (Dawson Creek),
Alberta (Grande Prairie, Hinton, Spruce Grove,
Okotoks/Aldersyde) and Saskatchewan and provide small
to mid-diameter pipeline construction and maintenance
services to some of the largest E&P companies in
Western Canada as well as some of the most dynamic
juniors and royalty trusts. In addition, the company
provides facility construction services.
“By partnering with Wolf Projects Ltd.,”
said Kevin Kutschinski, Chairman of
Pipeworx Ltd.,
“we are able to expand our geographic and service
footprint and serve our customer base not only in
traditional areas of Alberta but also be
well-represented in some of the exciting new plays in
the WCSB, most specifically the Montney and Horn River
Basin in British Columbia as well as the Bakken
development in Saskatchewan.”
“This acquisition continues our strategy of
growing our business both organically and through
prudent acquisitions of companies offering either
complementary services or service area.” Stated
Kelly Gillam, President and CEO of
Pipeworx Ltd.
“Wolf is particularly strong in facility work and
small diameter pipeline work in the Southern part of
Alberta and is well-represented in Saskatchewan which
is a market we are only beginning to make inroads into.
As well, by adding Wolf’s soon to be opened new
shop and yard in Aldersyde, we will be able to bring a
number of fabrication projects in-house and offer an
even broader range of services to our customers.”
Jason Ortt, newly appointed Vice-President Operations,
Southern Alberta for
Pipeworx and former
owner/manager of Wolf Projects Ltd. added: “We
are delighted to join and be part of the
Pipeworx group. We
are already realizing a number of synergies on projects
and I am personally excited to commit myself to this
young and dynamic management and executive team as we
continue to grow our business and provide top quality
service to all of our clients.
The combined company boasts in excess of 13 pipeline
and facility spreads with the capacity to grow by an
additional 3-4 during peak winter months. In addition
the company’s combined fleet includes more than
22 excavators, 8 dozers, 19 sidebooms, and over 35 crew
trucks as well as all related tools and equipment.
Pipeworx
and its
subsidiary companies are dedicated to the highest
standards of safety and quality and are fully licensed
and qualified to operate in British Columbia, Alberta
and Saskatchewan.
For more information, please contact Kelly Gillam,
President and CEO at (780) 960-2730 or Jason Ortt, Vice
President, Southern Alberta at (403) 995-WOLF (9653).
Please visit our website at
www.pipeworx.ca.