Black Diamond Group Limited announces asset purchase in B.C.
by CM Staff
The Assets are primarily located in Kitimat, British Columbia and are suited to service the Company’s broad Western Canadian Modular Space Solutions markets where the Company continues to see healthy demand related to construction and infrastructure.
CALGARY — Black Diamond Group Limited announces the closing of an asset purchase of 329 space rental units, plus ancillary assets for $20.45 million in cash, funded through the Company’s existing asset-based lending facility. The Assets are primarily located in Kitimat, British Columbia and are suited to service the Company’s broad Western Canadian Modular Space Solutions markets where the Company continues to see healthy demand related to construction and infrastructure.
In connection with the asset purchase, Black Diamond is also announcing an agreement with Gitxaala Enterprises Limited Partnership, the economic operating arm for the Gitxaala Nation.
“We are pleased to be working with the Gitxaala Nation and look forward to potential future opportunities to partner with Gitxaala Enterprises across Gitxaala traditional territories in British Columbia,” said Trevor Haynes, CEO of Black Diamond Group Limited. “This fleet of high-quality space rental assets were all built within the last five years and will fit seamlessly into our active Western Canadian MSS business across British Columbia and the Prairies, while driving continued rental revenue growth.”
“We are pleased to enter into this agreement with Black Diamond Group and look forward to working collaboratively on projects in Gitxaala territory in the future,” said Linda Innes, Chair, Gitxaala Enterprises Limited Partnership.
