Black Diamond Group Announces the Acquisition of Ottawa Modular Fleet from Travelite Trailers
January 16 2017
CALGARY, AB --(Marketwired - January 16, 2017) - Black Diamond Group Limited ("Black Diamond" or the "Company") (TSX: BDI), is pleased to announce the fleet acquisition of 116 modular units from Travelite Trailers Inc. ("Travelite"), based in the Ottawa area for a price of approximately $1.0 million.
"This acquisition will bolster the recent expansion into the Ottawa market announced on December 21, 2016 and will leverage the established presence of Travelite dating back to 1967," said Trevor Haynes, Chairman, and CEO of Black Diamond. "We are committed to our continued growth of BOXX Modular through acquisitions as well as organic capital, and further diversification of Black Diamond through this platform." Minimal general and administrative costs will be assumed as this fleet will be tucked under BOXX Modular's existing platform.
About Black Diamond
Black Diamond Group provides workforce accommodation, modular buildings, energy services, and full turnkey lodging and major project solutions including planning and management, logistics, and catering to customers in Canada, the United States and Australia. We serve diverse sectors including oil and gas, mining, power, construction, engineering, military, government, and education. Black Diamond has four core business units: Black Diamond Camps & Lodging, BOXX Modular, Black Diamond Energy Services, and Black Diamond International. Learn more at: www.blackdiamondgroup.com.