CERF Incorporated completes C$9.3 million acquisition of Empire Tool Inc.

Date closed: 5/28/2014

Value: C$9.3 million

On May 28, 2014, CERF Incorporated (CERF) completed the purchase of the business and assets (the Acquisition) of Empire Tool Inc. (Empire) through its subsidiary TRAC Energy Services Ltd. . The purchase price for the Acquisition was approximately C$9.3 million.  The Acquisition is payable by cash in the amount of C$6.1 million, subject to a one year, C$2 million hold back provision and through the issuance of $3.2 million CERF common shares.

CERF, headquartered in Calgary, Alberta, is a public corporation engaged in the rental, sale and service of industrial and construction equipment and waste management and environmental services.

Empire, headquartered in Calgary, Alberta, is a privately owned oilfield service and rental business.

BLG represented CERF with a team led by William C. Guinan that included Michael J. Saliken.