FlexEnergy Solutions Signs Agreement for the Sale of Its Canadian Operations to Focus on Growth Opportunities
FlexEnergy Solutions (“FlexEnergy”), a leader in reliable, clean, on-demand power solutions, announced the signing of a Purchase and Sale Agreement to sell 100% of its shares of Flex Leasing Power and Service ULC (“FlexEnergy Canada”) to Enterprise Group, Inc. (“Enterprise”), a consolidator of energy services (including specialized equipment and services to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) and other harmful emissions for small local and Tier One resource clients. FlexEnergy Solutions and Enterprise Group are finalizing the necessary documentation and anticipate closing the acquisition within the next few days.
With this strategic transaction, Enterprise will become the exclusive supplier for FlexEnergy’s turbines in Canada, further solidifying its market leadership and positioning Enterprise at the forefront of addressing the growing demand for reliable and efficient natural gas to electric power solutions across Canada and various industries.
FlexEnergy manufactures, sells, and leases the most resilient, clean gas turbines available for off-grid or grid-parallel power applications. With more than 20 years of engineering and manufacturing experience, the Flex Turbine addresses the need for uninterrupted power by delivering continuous, clean power with wide fuel tolerance in a scalable design that is quick and simple to deploy. The divestiture reflects the company’s focus on core growth markets across North America and provides additional financial flexibility to expand its fleet and better serve its growing customer base.
Flex Energy’s turbine technology, renowned for its efficiency, low-emission performance, and industry-leading fuel tolerance, has been a proven solution in Canada’s most demanding, extreme environments. The technology's robust performance is critical for industries ranging from remote power requirements, manufacturing, to AI data centers, which are increasingly relying on natural gas due to its rapid growth and sustainability as a power source.
This acquisition not only expands Enterprise’s fleet by adding 17 turbine generators but also establishes a platform from which to add FlexEnergy’s innovative 2.0-megawatt unit that meets the highest standards of power generation efficiency. Additionally, the acquisition includes several long-term lease and service contracts, ensuring a steady stream of recurring revenue.
The integration of FlexEnergy Canada into Enterprise Group will enhance the company’s offerings significantly. Not only will Enterprise continue to meet temporary and project-based power needs, but it will also provide permanent installation solutions with long-term lease options catering to a wider range of customer needs across all industries.
The acquisition also includes Flex Energy’s team of highly trained specialists, ensuring continued excellence in turbine technology and operations. This expansion aligns with the growing trend toward mobile, temporary natural gas power solutions, which offer a more cost-effective and environmentally friendly alternative to traditional diesel.
“We are excited about this transformational transaction and the new opportunities it creates for FlexEnergy Solutions,” said Doug Baltzer, CEO of FlexEnergy Solutions. “This decision represents a key milestone in our long-term growth strategy. The transaction will provide us with additional capital to invest in growing our fleet and pursuing emerging opportunities in key markets across North America.”
“We are excited to represent FlexEnergy Solutions in the Canadian market. The Flex Turbine is truly best-in-class technology, offering unrivaled uptime and dependability," said Leonard D. Jaroszuk, CEO and Chairman of Enterprise Group, Inc. “Our two companies share the common goals of delivering reliable, clean power on demand.”
FlexEnergy Solutions | www.flexenergy.com
Enterprise Group | www.enterprisegrp.ca