Logistec acquires a majority interest in FER-PAL Construction

On July 6, 2017, Logistec Corporation ("Logistec") completed the acquisition of 51% of all of the issued and outstanding voting shares of Fer-Pal Construction Ltd. ("Fer-Pal"). The purchase price comprised of a cash payment of C$41.5 million and the issuance of 230,747 Class B subordinate voting shares in the share capital of Logistec.

Logistec provides specialized services to the marine community and industrial companies.

Fer-Pal specializes in water main rehabilitation projects utilizing trenchless technologies of all types and sizes for municipalities in Canada and the United States, including the Aqua-Pipe technology for the trenchless rehabilitation of water mains developed and commercialized by Sanexen Environmental Services Inc., a subsidiary of Logistec.

Further information can be found on Newswire's website.