Canada’s CERF Inc. has acquired Zedcor Oilfield Rentals for about CDN $21 million, creating one of the largest oilfield rental providers in Western Canada. CERF also owns 4-Way Equipment Rentals and TRAC Energy Service, which also rents to oilfield customers.
Zedcor is a private oilfield equipment rental company based in Acheson, Alberta, with field offices in Fort St. John, B.C.; Grande Prairie, Alberta; and a corporate office in Calgary, Alberta. Since 2011, Zedcor has assembled one of the leading oilfield rental fleets in the industry and has developed a known brand of service.
Zedcor’s young fleet of rental assets include wellsite accommodations, light towers, tanks, bins, generators, rig mats and other ancillary equipment. CERF management estimates Zedcor’s fleet to have an average age of about three years and gross asset value of approximately $45 million.
TRAC Energy Services, which is a wholly owned subsidiary of CERF, will be merged with Zedcor and the combined entity will operate as Zedcor Energy Services.
CERF continues to focus its efforts on three core business lines: construction rentals, oilfield rentals, and waste and environmental services.
“Zedcor has assembled one of the highest quality oilfield rental fleets in Canada with a strong operations team that consistently achieves industry leading utilization rates,” said Austin Fraser, CERF president. “Through this challenging commodity price environment, CERF remains focused on protecting its balance sheet through this leverage-neutral transaction, while continuing to explore strategic acquisitions.”
PillarFour Capital is exclusive financial advisor to CERF with respect to the transaction.
4-Way Equipment Rentals, based in Edmonton, Alberta, is No. 75 on the RER 100.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.