EnTrans International, a US manufacturer of tank trailers and transportation hardware, has been acquired by Canadian home heating products company TerraVest Industries in a deal worth $546m.
Headquartered in Athens, Tennessee, EnTrans specialises in the transportation of cryogenic gases, in addition to petroleum, chemical, and food products.
The company operates manufacturing facilities in Minnesota, Texas, in Mexico, and in Thailand.
TerraVest has said the acquisition is a strategic move to diversify geographically and mitigate tariff exposure across its business.
Dustin Haw, CEO of TerraVest Industries, described Entrans as a strategic fit for TerraVest. The company has hinted at plans to expand its cryogenic product lines, tapping into EnTrans expertise.
Ryan Rockafellow, CEO of EnTrans, said, “This partnership allows us to expand our capabilities [and] grow our product offerings.”
To finance the acquisition, TerraVest updated its credit facility, led by Desjardins Group. The revised structure includes a C$800m revolving credit line, a $200m term loan, and two C$100m term loans.
