# Element Technical Services to acquire Essential Energy Services for $44.8M

Element Technical Services, through a subsidiary, will acquire all shares of Essential Energy Services for CAD 0.40 per share, totaling CAD 60.5 million ($44.8 million). The deal is subject to shareholder approval and expected to close after a special meeting on or around November 7, 2023.

- Type: Acquisition
- Announced: 2023-09-18
- Where: western Canada, Canada
- Value: $44.8M
- Status: announced
- Products: fracturing and coiled tubing services
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Element Technical Services](https://endata.com/companies/72672.md) (acquirer)
- [Essential Energy Services](https://endata.com/companies/72673.md) (target)

## Sources

- [rigzone.com](https://www.rigzone.com/news/element_to_acquire_essential_energy_for_448mm-18-sep-2023-174031-article/), 2023-09-18: "Element Technical Services Inc., via its wholly owned subsidiary 2544592 Alberta Ltd. (Subco), will acquire all the issued and outstanding common shares of Essential Energy Services Ltd. in a definitive amalgamation agreement."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.