2009-08-12-2007-08-01-2007-09-01
Acquired Alberta-based co. and separately owned 107,000-square-foot fabrication facility.
Crossfire Energy Services Inc., Calgary, (CDNX: CFE) has closed the acquisition of Alberta-based Micoda Process Systems Inc. and the separately owned 107,000-square-foot fabrication facility operated by Micoda in Medicine Hat, Alberta, for C$8.8 million. Crossfire acquired Micoda for C$1.27 million in cash and C$2.75 million in stock for a total C$4.2 million. Micoda designs and manufactures process equipment for the domestic and international oil and gas industry. Crossfire acquired the fabrication facility in Medicine Hat for C$2.3 million in cash and C$2.3 million in assumed debt for a total C$4.6 million. The facility involves 13.31 acres and will enable Micoda to expand its fabrication capacity. Crossfire funded the deal with a C$21-million credit facility.