Aveda Transportation & Energy Services Acquires Equipment Rental Assets

Aveda Transportation and Energy Services, a Calgary, Alberta, Canada-based provider of oilfield hauling services and equipment rentals to the energy industry, has acquired selected assets of 1st Rate Energy Services. Aveda is primarily acquiring tanks, matting, light towers, and other ancillary equipment and trucking fleets that will significantly grow Aveda’s oilfield equipment rental fleet.

Aveda is also Complete Energy Services Inc., controlled by a director of 1^st Rate. The acquisition price is about $7.5 million in cash.

Aveda is also opening a branch in Odessa, Texas, mostly to focus on rig moving in West Texas.

“We continue to identify sound opportunities to grow through acquisition, especially on the oilfield rentals side of our business,” said David Werklund, interim president and CEO of Aveda.