Texada Software, soon to be renamed Noble Iron Inc., has closed its asset purchase agreement to acquire the assets of Houston-based Bane Machinery Houston LP. The transaction was completed by a wholly owned U.S. subsidiary of the company.
Along with the purchase of certain Bane assets, including earthmoving equipment, Texada retained all employees and an extensive, active customer list. Texada also entered into a lease on the property currently occupied by Bane. The price for the acquisition was about $2.2 million.
“This transaction will mark our entry into a second major market in the U.S.,” said Willie Swisher, CEO of Texada and Noble. “The business will operate a full rental and distribution location serving southeast Texas from our leased facility. This extension of our operational footprint will allow Noble to expand upon its strong relationship with the Terex Corporation and our exclusive distribution of LiuGong Construction Machinery.”
Texada operates in three complementary businesses — equipment rental, equipment dealership and enterprise software for the construction and industrial equipment industry. The rental business, Noble Rents, operates in California and Texas. The software business is based in Guelph, Ontario, Canada.