Trican acquires Iron Horse Energy Services
Torys acted as counsel to Iron Horse with a team that included Scott Cochlan, Janan Paskaran, Carleigh Kennedy and Aleem Merali (corporate/M&A), Omar Wakil and Rebecca Wagner (competition), Darryl Hiscocks and Parker Baglole (employment) and Craig Maurice (tax).
On August 27, 2025, Trican Well Service Ltd. ("Trican") announced the closing of the previously announced acquisition of Iron Horse Energy Services ("Iron Horse"), a complementary private completions services company.
Under the terms of the share purchase agreement, dated July 3, 2025, Trican acquired all of the issued and outstanding shares of Iron Horse in exchange for approximately C$77.35 million in cash consideration and approximately 33.76 million common shares of Trican.
Following closing of the acquisition, Iron Horse is now a wholly owned division of Trican and it is expected that Trican will retain all of the existing management and employees of Iron Horse. Tom Coolen, the current Chairman and CEO of Iron Horse, was appointed to the board of directors of Trican.
Trican common shares were listed on the TSX on August 29, 2025, upon receipt of TSX final approval.
Further information can be found on Newsfile’s website.
Iron Horse is a privately owned fracturing and coiled tubing services provider operating primarily in the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays in the Western Canadian Sedimentary Basin.
Trican supplies oil and natural gas well servicing equipment and solutions to its customers through the drilling, completion and production cycles. Its team of technical experts provide state-of-the-art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada.