CALGARY, AB, March 9, 2021 – SECURE Energy Services Inc. (“SECURE”) (TSX: SES) and Tervita Corporation (“Tervita”) (TSX: TEV) are pleased to announce a transaction to create a stronger midstream infrastructure and environmental solutions business that is expected to provide enhanced free cash flow generation resulting from greater scale and significant annual integration cost savings of $75 million, unlocking value for all shareholders.
Rene Amirault, Chairman, President, and Chief Executive Officer of SECURE, stated:
“We are pleased to announce the combination of these two great companies, resulting in the creation of a larger scale midstream infrastructure and environmental solutions business. Together, our highly talented teams will be better positioned to serve our customers, optimize existing infrastructure assets and operations and to drive greater discretionary free cash flow to the bottom line. We look forward to working with the Tervita board of directors and team, and we are excited about the value creation opportunities of this Transaction for all stakeholders.”