MONTRÉAL, June 3, 2021
/PRNewswire/ - Today, SANEXEN Environmental Services Inc.
("SANEXEN"), a subsidiary of LOGISTEC Corporation, announced the
acquisition of American Process Group ("APG"), an Edmonton-based environmental industry leader,
specializing in dredging, dewatering and residuals management, for
an aggregate cash consideration of CA$50M, subject to adjustments.
This is a significant step toward SANEXEN's ambitious strategic
plan to expand their innovative services both geographically and
operationally as they bring their collaborative approach to water
main renewal, proven lead solutions, PFAS solutions and site
remediation to new markets in Canada and the USA.
APG is a family-based company with a solid reputation in
environmental and residuals management in Western Canada and throughout the USA. It has been serving industrial clients
including pulp and paper manufacturers and municipal and
governmental agencies since 2004. APG's in-depth experience in
residuals management for water, wastewater and waterways includes
the clean-up of lakes, lagoons and industrial ponds. This is an
ideal complement to SANEXEN's suite of environmental solutions
which use specialized and unique technologies to serve customers
across North America. For the year ended December 31, 2020, APG generated revenue of
CA$40.6 million and net earnings of CA$7.9 million.
"We are very pleased to welcome APG to the SANEXEN family,"
explained Madeleine Paquin,
President & CEO, of LOGISTEC Corporation. "Together, we will be
offering industrial and municipal clients a full-circle suite of
solutions, providing new services in the communities where we are
each well established. We will be able to build on our solid
reputations to work closely with customers and municipalities
across North America."
John and Colleen Prince, Founders
of APG said, "APG is excited to begin this next chapter of our
journey, and what better way to reach more communities than with
SANEXEN. Our goal has always been to provide environmental
solutions that improve the life of the world in which we live which
aligns very well with SANEXEN's mission and values."
"When LOGISTEC acquired SANEXEN almost 30 years ago, we knew
that treating soil and water was the driving force behind
everything we do," added Madeleine
Paquin. "As we built up our expertise and our reputation
over the decades, we have looked for new and innovative service
offerings to add to our portfolio. With the acquisition of APG, we
continue to work with the best and build on our role as leaders in
environmental services."
About LOGISTEC Corporation
LOGISTEC Corporation is
based in Montréal (QC) and provides specialized services in both
the marine and environmental industries. Marine services are
offered in the areas of bulk, break-bulk and container cargo
handling in 53 ports and 79 terminals across North America. LOGISTEC also offers marine
transportation services geared primarily to the Arctic coastal
trade, as well as marine agency services to foreign shipowners and
operators serving the Canadian market. Environmental services are
offered through its subsidiaries SANEXEN Environmental Services
Inc. and FER-PAL Construction Ltd.
About SANEXEN
SANEXEN Environmental Services Inc., a
member of the LOGISTEC family, is a leading provider of
environmental solutions for the past 35 years. With its key
business lines - Site Remediation, Major Projects, Infrastructure,
Soil and Materials Management and Water Technologies - SANEXEN
continues to deliver creative and customized solutions to
industrial, municipal and governmental customers and partners.
SANEXEN's expert environmental engineers and scientists combined
with their in-house research and development teams continue to
explore and implement new technologies to address the ever-evolving
environmental issues the world faces today.
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SOURCE Logistec Corporation
