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Accede Acquires Phoenix Oilfield Rentals

Accede Acquires Phoenix Oilfield Rentals

Blackfalds, Alberta – Accede Energy Services Ltd. ("Accede") of Blackfalds, Alberta, has acquired the assets of Phoenix Oilfield Rentals Ltd and Allstar Hauling Ltd.

Accede Energy Services Ltd. is an employee owned and operated company with locations throughout Western Canada, servicing energy and industrial clients through equipment rentals, fire and safety services, fabrication facilities, and valve repair and maintenance. Accede has over $50 million worth of assets while the acquisition of Phoenix’s rental fleet adds an additional $10 million bringing to the Accede group the advantage of considerable scale. Geographically, the acquisition significantly enhances Accede’s presence in the Grande Prairie area and compliments Accede’s existing locations in Calmar, Blackfalds, Edson, Brooks, Ft. McMurray, Estevan, and Kindersley.  

Established in 2006, Phoenix Oilfield Rentals has built a loyal customer base across several industries, including drilling, completions, construction, facilities development and pipeline projects. Phoenix is a growing business continuously striving to meet the needs of its clients, offering a wide variety of rental equipment and providing an excellent standard of service.

Gord Fritz, President of Accede said about the acquisition, "Phoenix Rentals has a solid reputation for customer service and support. The combination of Accede and Phoenix will result in exciting opportunities for all those involved.” Fritz continues, "This is a positive move for both companies as our people, facilities, and rental fleets are highly complementary. Whether it’s combined efforts in field servicing or Accede’s fabrication abilities to continue offering innovative products to both sets of customers."   

Kris Fleckenstein, Chief Financial Officer of Accede furthers the acquisition rationale, “In a depressed industry, consolidation of companies makes a lot of sense. Getting overhead spread over a larger revenue base sets Accede up for better efficiencies today while dramatically enhancing our growth prospects when oil starts to recover. Accede continues to look for opportunities that present themselves for acquisitions.”

The team at Accede was praised by the President of Phoenix Oilfield Rentals, Gerard J. Hermary. "Accede has a proven reputation in the industry for integrity and fresh thinking. The Phoenix Rentals ‘standard of excellence’ approach blends well with Accede's established culture.” Gerard looks forward to working with the Accede team to continue to meet the needs of the combined groups’ customers.