Enterprise Group Inc. closed the transaction to divest the assets of T.C. Backhoe & Directional Drilling Ltd. to TC Infrastructure Services Ltd., a wholly owned subsidiary of Quanta Services Inc., according to a July 7 press release.

Gross cash proceeds, including working capital, from this transaction will be about $20 million, subject to post-closing adjustments. All proceeds will be used to reduce Enterprise's debt.

Enterprise Group Inc., based in Alberta, is a consolidator of construction services companies operating in the energy, utility and transportation infrastructure industries.