STRIKE GROUP EXPANDS PIPELINE INTEGRITY AND TESTING SERVICE OFFERING WITH THE ACQUISITION OF JEDCO ENERGY SERVICES
Press Release
Calgary, Alberta, November 2019
TriWest Capital Partners (“TriWest”) is pleased to announce that Strike Group Inc. (“Strike Group”) (a Fund V portfolio company), has acquired Jedco Energy Services Corp. (“Jedco”) from its existing shareholders. The investment was made in partnership with Jedco’s management team and existing shareholders.
Established in 2002 and based in Red Deer, Alberta, Jedco is a leading single source provider of pipeline integrity and testing services in Western Canada. Jedco works as a partner with its long-standing customers and prides itself on delivering efficient and quality workmanship in a safe and timely manner. Focus on people, performance and resources are core to Jedco’s success and contribute to its commitment to provide and maintain a safe work environment through the recognition of industry best practices.
The acquisition of Jedco allows the Strike Group to expand and diversify its service offering to new and existing customers in the pipeline integrity and testing industry. Strike Group will look to build off the strong relationships Jedco has built since 2002 and combine best practices of both Strike Group and Jedco to provide an industry leading service offering.
Strike Group’s President and CEO, Stephen Smith, said “The combination of Strike Group and Jedco brings together two great teams who value customer relationships, project execution, efficiency and safety. As a result of the transaction, Strike Group will be able to expand its service offering in the pipeline integrity and testing space and draw on the best practices and talents of each team”, Mr. Smith said.
About Jedco:
Founded in 2002 and based in Red Deer, Alberta, Jedco is a leading single source provider of pipeline integrity and testing services in Western Canada.
About Strike Group:
Founded in 2004 and based in Calgary, Alberta, Strike Group is an energy service and construction company focused on servicing energy, transmission and distribution, pipeline and industrial sectors throughout Western Canada. Strike Group provides project construction, fabrication, pipeline and facility construction, plant and production facility maintenance and turnarounds, module assembly and installation, and electrical and instrumentation services.
About TriWest Capital Partners:
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over $1.25 billion in committed capital through five funds. TriWest makes significant equity investments in profitable companies and works in partnership with management to generate superior financial returns through the pursuit of growth opportunities and a focus on operational excellence. TriWest provides more than just capital. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information about TriWest, please visit www.triwest.ca.