Transaction|March 1, 2013
Canadian Energy Services & Technology Corp. announces strategic acquisition of JACAM Chemical Company Inc.'s business assets
Torys acted as counsel to Canadian Energy Services with a team that included Scott Cochlan, Janan Paskaran and Matthew Lui (corporate), Kevin Fougere and Megan Kinsella (banking).
On March 1, 2013 Canadian Energy Services & Technology Corp. (Canadian Energy Services) announced that it acquired the production and specialty oilfield chemical business of JACAM Chemical Company, Inc. (JACAM) and its subsidiaries pursuant to the terms of an asset purchase agreement. The total purchase price of US$240 million included the issuance of US$60 million in common shares of Canadian Energy Services (being 5,454,545 common shares) to JACAM.
Canadian Energy Services also announced that it entered into an engagement letter with Scotiabank and RBC Capital Markets as joint bookrunners, whereby they will lead a syndicate of underwriters with respect to a proposed private placement financing of senior unsecured notes.
Canadian Energy Services' business is focused on the design and delivery of technically advanced fluids for the North American oil and gas industry.
JACAM is a private company that manufactures and distributes oilfield related specialty chemicals.
Further information can be found on Marketwire's website.
Canadian Energy Services also announced that it entered into an engagement letter with Scotiabank and RBC Capital Markets as joint bookrunners, whereby they will lead a syndicate of underwriters with respect to a proposed private placement financing of senior unsecured notes.
Canadian Energy Services' business is focused on the design and delivery of technically advanced fluids for the North American oil and gas industry.
JACAM is a private company that manufactures and distributes oilfield related specialty chemicals.
Further information can be found on Marketwire's website.