Surepoint Technologies Group and its partner ATB Private Equity announced the acquisition of Ironline Compression Services, the mechanical services and parts distribution arm of Ironline Compression LP. No financial details were provided.
A portfolio company of mid-market private equity firm Staple Street Capital, Ironline Compression LP has been retained and will continue to operate its compressor rental and leasing business, which was not included in this transaction .
The integration of these service companies strengthens their presence in the Western Canadian market with locations in Nisku, Calgary, Grande Prairie, Fort St. John and Edson. This combined entity will offer electrical and instrumentation, telecommunications, natural gas compression and control, modular buildings, equipment manufacturing and compressor-related parts distribution, Surepoint said.
“Our future is brighter than ever, and we couldn’t be more excited about it! said Surepoint Group CEO Trevor Muir. “Our teams fit so well culturally, and our combined services provide many opportunities for growth for our teams, clients and communities.
“Together, we are better positioned to meet the needs of our customers, provide meaningful employment opportunities and give back to the communities we serve.
With a broader skill set, Surepoint said the combined company will introduce the expanded service lines to its current customer base and leverage its combined skills to grow its Canadian presence. As they grow, the companies said they look forward to supporting the areas they serve with new employment opportunities and enhanced community initiatives.
“There are many synergies between our businesses that unite us as an innovative leader that our teams, customers and stakeholders can be proud of and benefit from as they continue to grow,” said Tim Kelley, CEO of Ironline Compression. “As truly Canadian companies with a rich history in the industry, we are poised for strategic growth across Canada and to bring our combined services to the global marketplace.
Over the coming months, the new entity will work closely with customers, partners and vendors to ensure a smooth onboarding process, Surepoint said.
Established in 2003, Surepoint Group is a Calgary-based industrial contractor specializing in electrical, instrumentation, telecommunications, compression and controls, modular buildings and equipment manufacturing.
Also based in Calgary, Ironline Compression is a supplier of mechanical services and parts distribution for natural gas compression with over 75 years of experience in the Canadian energy industry. It is a Canadian distributor of natural gas engines and compressors including Waukesha, Ariel, Cooper Bessemer, Superior, Gemini, Ajax and Caterpillar.