New Acquisition SANEXEN Further Solidifies Position as North American Leader in Environmental Services with Acquisition of APG

MONTRÉAL, June 3, 2021 /CNW Telbec/ - Today, SANEXEN Environmental Services Inc. ("SANEXEN"), a subsidiary of LOGISTEC Corporation, announced the acquisition of American Process Group ("APG"), an Edmonton-based environmental industry leader, specializing in dredging, dewatering and residuals management, for an aggregate cash consideration of CA$50M, subject to adjustments. This is a significant step toward SANEXEN's ambitious strategic plan to expand their innovative services both geographically and operationally as they bring their collaborative approach to water main renewal, proven lead solutions, PFAS solutions and site remediation to new markets in Canada and the USA.

APG is a family-based company with a solid reputation in environmental and residuals management in Western Canada and throughout the USA. It has been serving industrial clients including pulp and paper manufacturers and municipal and governmental agencies since 2004. APG's in-depth experience in residuals management for water, wastewater and waterways includes the clean-up of lakes, lagoons and industrial ponds. This is an ideal complement to SANEXEN's suite of environmental solutions which use specialized and unique technologies to serve customers across North America. For the year ended December 31, 2020, APG generated revenue of CA$40.6 million and net earnings of CA$7.9 million.

"We are very pleased to welcome APG to the SANEXEN family," explained Madeleine Paquin, President & CEO, of LOGISTEC Corporation. "Together, we will be offering industrial and municipal clients a full-circle suite of solutions, providing new services in the communities where we are each well established. We will be able to build on our solid reputations to work closely with customers and municipalities across North America."  

John and Colleen Prince, Founders of APG said, "APG is excited to begin this next chapter of our journey, and what better way to reach more communities than with SANEXEN. Our goal has always been to provide environmental solutions that improve the life of the world in which we live which aligns very well with SANEXEN's mission and values."

"When LOGISTEC acquired SANEXEN almost 30 years ago, we knew that treating soil and water was the driving force behind everything we do," added Madeleine Paquin. "As we built up our expertise and our reputation over the decades, we have looked for new and innovative service offerings to add to our portfolio. With the acquisition of APG, we continue to work with the best and build on our role as leaders in environmental services." 

About LOGISTEC Corporation
LOGISTEC Corporation is based in Montréal (QC) and provides specialized services in both the marine and environmental industries. Marine services are offered in the areas of bulk, break-bulk and container cargo handling in 53 ports and 79 terminals across North America. LOGISTEC also offers marine transportation services geared primarily to the Arctic coastal trade, as well as marine agency services to foreign shipowners and operators serving the Canadian market. Environmental services are offered through its subsidiaries SANEXEN Environmental Services Inc. and FER-PAL Construction Ltd.

SOURCE Logistec Corporation http://www.logistec.com

For further information: Jean-Claude Dugas, Chief Financial Officer,
Phone: (514) 985-2345, Email: jdugas@logistec.com