SANEXEN Environmental Services Inc. (“SANEXEN”), a subsidiary of LOGISTEC Corporation, announced the acquisition of Edmonton-based American Process Group (“APG”) for an aggregate cash consideration of CA$50M, subject to adjustments.
“We are very pleased to welcome APG to the SANEXEN family,” said Madeleine Paquin, president and CEO of LOGISTEC Corporation. “Together, we will be offering industrial and municipal clients a full-circle suite of solutions [and] providing new services in the communities where we are each well established. We will be able to build on our solid reputations to work closely with customers and municipalities across North America.”
“APG is excited to begin this next chapter of our journey, and what better way to reach more communities than with SANEXEN,” added John and Colleen Prince, founders of APG. “Our goal has always been to provide environmental solutions that improve the life of the world in which we live which aligns very well with SANEXEN’s mission and values.”
APG specializes in dredging, dewatering, and residuals management. It has been serving industrial clients including pulp and paper manufacturers and municipal and governmental agencies since 2004. APG’s experience in residuals management for water, wastewater, and waterways includes the clean-up of lakes, lagoons, and industrial ponds.
According to SANEXEN, this is an ideal complement to its suite of environmental solutions that use specialized and unique technologies to serve customers across North America. The acquisition of APG is a significant step toward SANEXEN’s ambitious strategic plan to expand its innovative services both geographically and operationally as it brings its collaborative approach to water main renewal, proven lead solutions, PFAS solutions, and site remediation to new markets in Canada and the USA.
“When LOGISTEC acquired SANEXEN almost 30 years ago, we knew that treating soil and water was the driving force behind everything we do,” said Paquin. “As we built up our expertise and our reputation over the decades, we have looked for new and innovative service offerings to add to our portfolio. With the acquisition of APG, we continue to work with the best and build on our role as leaders in environmental services.”
For the year ended December 31, 2020, APG generated revenue of CA$40.6 million and net earnings of CA$7.9 million.
