Mikisew Group of Companies announces acquisition of Guthrie Industrial Services Ltd. and Guthrie Mechanical Services Ltd. along with a 5 year Master Service Agreement with Syncrude Canada

FORT MCMURRAY, AB, May 1, 2019 /CNW/ - The Mikisew Group of Companies ("MGOC") is pleased to announce that it has acquired Guthrie Industrial Services Ltd. and Guthrie Mechanical Services Ltd. (together, "Guthrie"). MGOC and Guthrie have worked together as partners through the Mikisew Guthrie Limited Partnership ("MGLP") for the past 2 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 5 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, Chief Executive Officer, Mikisew Group of Companies, stated: "We are very pleased to announce the acquisition of Guthrie. 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. Guthrie's history in the region and strong values associated with community, operational excellence, and safety performance is exactly in line with our core values. 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."

Doug Allen, Chief Executive Officer, Guthrie Mechanical Services Ltd stated: "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."

Advisers
Deloitte Corporate Finance Inc. and Deloitte LLP acted as exclusive financial and tax adviser and Dentons Canada LLP acted as legal counsel to Mikisew on the transaction.  Bank financing for the transaction has been funded by BMO Financial Group.

About The Mikisew Group of Companies
Mikisew Group of Companies is owned directly by the Mikisew Cree First Nation. The Mikisew Group of Companies is comprised of two main operating entities (wholly owned) with a peak workforce of approximately 500 individuals and 11 limited partnerships and joint ventures (majority owned) servicing the Alberta oil sands in various industries including site services, fleet maintenance, transportation services, emergency medical response and fire response, camp and catering services, construction services, structural steel, electrical and instrumentation services, aerodrome handling and facilities maintenance. For more information, visit www.mikisewgroup.com.

About Guthrie Industrial Services Ltd. and Guthrie Mechanical Services Ltd.
Guthrie is one of Northern Alberta's most knowledgeable and dependable provider of consolidated facilities, industrial maintenance, lifting and tool repair services. As one of Fort McMurray's most established businesses, Guthrie began working alongside the oil sands industry more than 40 years ago. Together with our First Nations partnership MGLP (Mikisew Guthrie Limited Partnership), we've grown to a team of 600 skilled trade professionals with entrepreneurial values that will never change. For more information, please visit www.guthriemech.com.

SOURCE Mikisew Group Of Companies

please reach out to Malek Eid, VP Corporate Strategy and Development at [email protected]