Entrec Corp., Spruce Grove, Alberta, (Toronto Venture: ENT) has closed its acquisition of the Nisku, Alberta-based Mains Group of Cos. for C$57.8 million in cash and stock.
Entec issued 15.15 million common shares at a deemed price of C$1.35 per share and paid the balance in cash.
The Mains Group provides crane and heavy-haul transportation services to all major industry sectors throughout western Canada. In 2009, the Mains Group also expanded its operations through Mains Crane USA to Fargo, North Dakota adjacent to the Bakken region.
The Mains Group currently ...