Complete Production Sheds IPS Canada Operations

Acquired Canadian wireline business providing slickline, eline, speciality services and production optimization in AB & BC.

Complete Production Services Inc., Houston, (NYSE: CPX) has completed the divestiture of its Canadian wireline operations to Houston-based private-equity firm SCF Partners for approximately $45 million in cash.

IPS Canada provides slickline, eline, speciality services and production optimization to Western Canadian oilfields. The company has offices in Alberta in Calgary, Brooks, Edson, Grande Prairie, Lloydminster, Red Deer, Slave Lake, Whitecourt and Zama and also Fort St. John, British Columbia.

Comple Production chairman and chief executive Joe Winkler says, “The employees of IPS Canada have built a leading wireline service provider in Western Canada, and we want to thank them for their contributions to the success of Complete over the years and wish them the best in their future careers.”

Simmons & Company International was financial advisor to Complete Production Services.