Enterprise Group, Inc. has completed its acquisition of Pro Tech Construction Inc., (Pro Tech) for a purchase price of $2,050,000.00. The acquisition is effective June 19, 2013 and was funded through a cash only transaction.

This acquisition is seen as a highly strategic advance for the company, as Pro Tech's main asset is 12.29 acres of land and buildings combined with a development permit that allows for future expansion. The property acquired is ideally located in West Edmonton's busy Acheson Industrial park. This area has shown unprecedented growth and in combination with lack of developed industrial land in the area, has resulted in an increased appraised value of $3,500,000 since the offer to purchase was accepted.

The location will also serve as a West Edmonton field office for TC Backhoe and Directional Drilling LP, ("TC") and Artic Therm International ("ATI"). This location will assist TC and ATI to expand their operations and at the same time is ideally located to support TC's new regional contract with a major utility company who is located in the same vicinity which TC has a long term relationship with.

Tags: Enterprise Group, Inc.