ATCO Sells Subsidiary Division ATCO Emissions Management
CALGARY, ALBERTA–(Dec. 29, 2015) – ATCO announced today the sale of its subsidiary division, ATCO Emissions Management, to TriWest Capital Partners, a leading Canadian private equity firm based in Calgary, Alberta.
The sale demonstrates the continuation of ATCO’s long-term strategy of divesting non-core assets and redeploying capital to its core businesses in Structures & Logistics, Electricity and Pipelines & Liquids.
In the transaction, TriWest will acquire all of the company’s global operations in Canada, the U.S. and Mexico. Included in the sale will be the transfer of the company’s current contracts and employees who will remain in their roles under the new ownership. The transaction is anticipated to close on Dec. 31, 2015.
With nearly 8,000 employees and assets of approximately $19 billion, ATCO is a diversified global corporation delivering service excellence and innovative business solutions through vertically integrated global business units engaged in Structures & Logistics (workforce housing, innovative modular facilities, construction, site support services, and logistics and operations management); Pipelines & Liquids (natural gas infrastructure development, transmission and distribution, and liquids and water infrastructure development, storage and processing); and Electricity (power generation, distributed generation, and electricity infrastructure development and transmission). More information can be found at www.atco.com.
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.
The Company’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company.
The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
Media & Investor Inquiries:
Harold (Harry) Wong
Senior Vice President & General Manager
ATCO Emissions Management
519.220.0600 Ext. 224