Calgary's Wellco Energy Services Trust (TSX:WLL.UN) has bought Vancouver's Sanitherm Engineering Ltd. for a reported $9.75 million.
Wellco's acquisition of Sanitherm, which makes permanent and portable waste water treatment systems, will add approximately $1.5 million to the income trust's cashflow and improve efficiencies in Wellco's product line.
Wellco provides water and waste water treatment systems, accommodation and catering services for Western Canada's oil and natural gas industry.
Sanitherm has been in business for roughly 60 years, and its owners Rick Smyth and David Botwright have agreed to remain with the company for at least the next three years.