MERGER: Mikisew Group acquires Guthrie and service deal with Syncrude

FORT McMURRAY, Alta. – The Mikisew Group of Companies (MGOC) is pleased to announce that it has acquired Guthrie Industrial Services and Guthrie Mechanical Services. MGOC and Guthrie have worked together as partners through the Mikisew Guthrie LP  (MGLP) for the past two years and now look forward to building on MGOC's significant portfolio of oilfield services businesses and Guthrie's more than 40 years of service excellence in providing consolidated facilities, industrial maintenance, lifting, and tool repair services to the Northern Alberta oil sands industry. MGLP was also awarded a five-year MSA with Syncrude for consolidated facilities maintenance, mechanical maintenance, equipment repair, and project services. Financial terms of the transaction were not disclosed. Edward Courtoreille, Mikisew Group CEO, stated, "This transaction reconfirms our commitment to grow in the RMWB region by adding a significant suite of wholly owned services to our growing portfolio of entities. This transaction will not only better the financial performance of our company but also create skilled trade employment and apprenticeship opportunities to grow capacity within the Mikisew Cree First Nation and surrounding communities. Guthrie has been an integral part of Syncrude onsite operations for the last 30 years and Syncrude's support for the deal reaffirms their commitment to working with Tier 1 suppliers in the region." Guthrie CEO Doug Allen said, "On behalf of everyone at Guthrie, we are very pleased to be joining the Mikisew Group of Companies as a wholly owned entity.  Our organization has been a part of the economy of RMWB for a long time and been providing value added services to the oil sands industry throughout the entire period.  This transaction ensures the continuation of that history and provides an exciting future for everyone involved.  We are looking forward to becoming a direct part of, and contributor to, the regional growth initiatives of the Mikisew Cree First Nation." "Syncrude would like to congratulate the Mikisew Group of Companies on the acquisition of Guthrie Mechanical and Guthrie Industrial Services. We have had long, successful relationships with all three of these companies," says Doreen Cole, Syncrude's managing director. "We look forward to working with the Mikisew Group of Companies as a key partner in a safe, reliable, responsible and profitable oil sands operation." For more information, visit www.MikisewGroup.com.