2011-06-20-2011-06-01-2011-06-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$1.7MM
Description

Acquired SilverJack business unit, which provides hydraulic-pump technology to the Canadian energy industry.

Zedi Inc., Calgary, (Toronto Venture: ZED) has acquired the SilverJack business unit from Brooks, Alberta-based TCB Welding and Construction Ltd. for C$1.76 million and an earnout, based on revenue performance, during a three-year period.

SilverJack provides hydraulic-pump technology, with patents pending. The company is an early-stage business and Zedi expects there to be growth potential domestically and internationally. SilverJack's hydraulic pump readily integrates into Zedi's current oil optimization technology.

Zedi president and chief executive Matthew Heffernan says, "Over the past three years we have been strategically advancing toward a full oil production solution and we are pleased to add SilverJack to the Zedi technology and solutions suite, as a significant step in reaching that milestone. With the hydraulic pump already fully commercialized, implemented in the field and with a patent pending in Canada and internationally, it contributes to our technology roadmap with what we expect to be another accretive acquisition."