Surepoint Group buys Ironline’s service business
03 June 2021
Surepoint Technologies Group and its partner ATB Private Equity has announced the acquisition of Ironline Compression Services, the mechanical services and parts distribution arm of Ironline Compression LP. No financial details were provided.
A portfolio company of middle market private equity firm Staple Street Capital, Ironline Compression LP has been retained and will continue to operate its compressor package rental and leasing business, which was not included in this transaction.
The integration of these service companies strengthens their foothold in the western Canadian market with locations in Nisku, Calgary, Grande Prairie, Fort St. John and Edson. This combined entity will offer electrical and instrumentation services, telecom, natural gas compression and controls, modular buildings, equipment fabrication, and compressor-related parts distribution, Surepoint said.
“Our future is brighter than ever, and we couldn’t be more excited about it!” said Surepoint Group CEO, Trevor Muir. “Our teams align so well culturally, and our combined services offer many growth opportunities for our teams, clients, and communities.
“Together, we are better positioned to support our clients’ needs, offer attractive employment opportunities and give back to the communities we serve.”
With a broader skill set, Surepoint said the combined company will introduce the expanded service lines to its current client base and leverage its combined skills to increase its Canadian presence. As they grow, the companies said they look forward to supporting the areas they serve with new employment opportunities, and enhanced community initiatives.
“There are numerous synergies between our companies that unite us as an innovative leader which our teams, clients, and stakeholders can be proud of and leverage for their continued growth,” said Tim Kelley, CEO of Ironline Compression. “As truly Canadian companies with a rich history in the industry, we are set up for strategic growth across Canada and to bring our combined services to the global marketplace.”
Over the next few months, the new entity will work closely with clients, partners, and suppliers to ensure a smooth integration process, Surepoint said.
Established in 2003, Surepoint Group is a Calgary-based industrial contractor specializing in electrical, instrumentation, telecom, compression and controls, modular buildings and equipment fabrication.
Also headquartered in Calgary, Ironline Compression is a provider of mechanical services and parts distribution for natural gas compression with over 75 years of experience in the Canadian energy sector. It is a Canadian distributor of natural gas engines and compressor products, including Waukesha, Ariel, Cooper Bessemer, Superior, Gemini, Ajax and Caterpillar.