A multi-million dollar deal closed in the Saskatchewan oil sector over the holidays, as Vertex Resource Group purchased Sonic Oilfield Services. Sonic is an environmental services company, which operated primarily in the Weyburn and Kindersley areas, providing pressure trucks, fluid hauling, and chemical and KCL products.
The purchase includes the rolling stock of the Sonic fleet, which will be directly added to Vertex’s. The move was made to increase the Vertex presence in Saskatchewan. The KCL mixing facility Sonic operated in Kindersley was also part of the deal.
The purchase price was $4.5 million, in shares and cash. The price could increase, though, if certain metrics are not met by December 31st of 2019.
The deal is not expected to have any impact on the current operations or staffing of Sonic within the Weyburn or Kindersley areas.