ENERFLEX LTD. $19.74 (Toronto symbol EFX; TSINetwork Rating: Extra Risk) (403-387- 6377; www.enerflex.com; Shares outstanding: 78.3 million; Market cap: $1.3 billion; Dividend yield: 1.8%) rents and sells equipment and services for natural gas production.
The stock has jumped over 20% since Enerflex announced on June 1 that it will acquire two businesses owned by privately held Axip Energy Services LP: an international contract compression and processing subsidiary, and a division that provides aftermarket services. Enerflex will pay $430 million U.S. in cash.
The agreement includes operations in Mexico, South America, Southeast Asia and the Middle East, but not Axip’s U.S. business. The assets include a 448- unit compression fleet totalling about 285,000 horsepower.
The fleet operates mostly under long-term rental contracts. As well, this equipment is currently 90% utilized and has an average age of just 5.5 years.
The acquisition looks like a great fit for Enerflex. It expands the company’s product offerings and its international reach. It should also immediately add to its…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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The privacy of the site/store visitor is very important to TSI Network, and is respected at all times. The information we receive from customers helps us to personalize and continually improve your online experience at TSI Network.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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COMMENTS: TERMS OF USE
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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