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Enter Symbol
or Name
USA
CA



TerraVest Capital Inc
Symbol TVK
Shares Issued 18,335,184
Close 2017-09-19 C$ 9.48
Market Cap C$ 173,817,544
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TerraVest Capital buys U.S. propane tank maker

2017-09-19 09:32 ET - News Release

Mr. Dustin Haw reports

TERRAVEST CAPITAL INC. ANNOUNCES ACQUISITION OF FISCHER TANKS

TerraVest Capital Inc. has acquired, through a wholly owned subsidiary, all of the assets of Fischer Tanks LLC and affiliated companies, a privately owned company based in Kaleva, Mich., which is primarily focused on refurbishing and manufacturing domestic propane tanks for the U.S. and Canadian markets. Fischer also has its own fleet of trucks and trailers.

The acquisition of Fischer enhances TerraVest's position as a leader in the North American propane industry, providing customers with full-scope services including the manufacturing of domestic propane tanks, large storage vessels, trailers and bobtails as well as the refurbishment of used propane tanks.

According to Doug Fischer, general manager of Fischer: "Joining forces with TerraVest is a natural fit that allows us to provide customers with additional products and services from TerraVest's market-leading propane subsidiaries. Tank refurbishment complements TerraVest's current product offerings and I feel confident that we will ensure the continuity at Fischer by maintaining jobs, upholding product quality standards, caring for clients and building out our expertise for customers."

Dustin Haw, chief executive officer of TerraVest, added that: "Fischer Tanks is a great addition to our company and I am pleased to welcome Fischer employees. Fischer is an industry leader in propane tank refurbishing. This acquisition aligns well with our core competencies and greatly enhances our product offering to customers."

About TerraVest Capital Inc.

TerraVest Capital is an industrial manufacturer focused on acquiring businesses with strong cash flow generation, operating success, strong balance sheets and committed management teams. The company is focused on creating value for shareholders through existing lines of business as well as acquiring additional businesses with stable cash flows and potential for growth through TerraVest's support. The company is focused on evaluating opportunities that reside in the manufacturing of tanks and fuel containment vessels as well as the fabrication of oil and gas processing equipment where expertise in metal fabrication and welding are required.

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