CCS Income Trust acquires ARKLA Disposal
Services of Louisiana
CCS Income Trust (CCS) has completed the acquisition
of ARKLA Disposal Services Inc. and its affiliated companies (ARKLA).
ARKLA is an industrial waste water treatment plant operating in
the Port of Shreveport, Louisiana.
CCS acquired all of the outstanding shares of
ARKLA for approximately CDN$11.7 million (approximately $10.5 million
US). In addition to the purchase price, ARKLA has CDN$7.0 million
of long term debt and will pay CDN$0.7 million in retention bonuses
to key employees over the next two years.
“The successful acquisition of ARKLA is
tangible evidence of our plan to extend the CCS service model to
the U.S.,” said David Werklund, CCS’s president and
CEO. “ARKLA opens up new markets for CCS in northern Louisiana
and Arkansas and provides opportunities for expansion in these markets
and other adjacent geographic areas.”
The ARKLA facility generated un-audited revenues
totaling about $4 million Canadian during the first six months of
2006. |
