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Sherwood Park, Alberta, March 2, 2021 (TSXV:VTX) – Vertex Resource Group Ltd. (“ Vertex ” or the “Company”) is pleased to announce that it has acquired MAD Oilfield Solutions (MAD), a privately-held company providing environmental services specializing in industrial cleaning, waste management and hydro-excavating, based out of Northern Alberta. The acquisition of MAD will add over 50 specialized units, along with other equipment to Vertex’s fleet. MAD is a leader in the industry, delivering quality services to clients throughout Northern Alberta for over 20 years with significant growth potential. MAD has excellent multi-year contracts in place with their customer base for industrial cleaning, maintenance, operational support, and waste management. This acquisition will strengthen Vertex’s presence in the oilsands by adding MAD’s locations in Fort McMurray and Lac La Biche to better service existing clients. “This acquisition will greatly enhance Vertex’s industrial cleaning asset base and capabilities, allowing Vertex to execute larger maintenance opportunities. Their strong leadership, operational excellence and safety culture will integrate well with Vertex’s culture and core values” said Terry Stephenson, CEO and President of Vertex. “The acquisition will position the combined MAD/Vertex Team with numerous opportunities to grow market share and offer more diverse service lines […]
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