Toromont Industries Ltd. last week announced that 39.6 million trust units of Enerflex Systems Income Fund and 2.6 million exchangeable limited partnership units of Enerflex Holdings Limited Partnership have been tendered to Toromont’s offer for Enerflex. As all of the conditions have been satisfied, Toromont has now purchased these units in accordance with its offer, and the offer has expired.

Toromont now owns approximately 96 percent of the outstanding Enerflex trust units on a fully diluted basis. The units owned by Toromont are sufficient to cause the redemption and acquisition of all of the remaining units.

“We now have the opportunity to move forward with the integration of Enerflex and our Toromont Energy Systems business,” said Robert Ogilvie, chairman and CEO of Toromont. “The combination will be a win for customers as well as Toromont shareholders, including those Enerflex unitholders who are choosing to take Toromont shares. It will also provide employees of both companies with a challenging and exciting opportunity to help build a Canadian-based global leader.”

The acquisition is expected to be completed in late February.

Toronto-based Toromont Industries has two segments, the Equipment Group, including one of North America’s largest Caterpillar dealerships and its rental operations Battlefield Equipment; and the Compression Group. Enerflex, based in Calgary, Alberta, is a leading supplier of products and services to the global oil and gas production industry.