TerraVest Industries Inc. (TSX:TVK) entered into an agreement to acquire All the assets of of Highland Tank & Manufacturing Company, Inc. for $78 million on November 1, 2023. The total purchase price of $78 million equates to a purchase price multiple on trailing twelve-month EBITDA of approximately 4.0x. Of the $78 million purchase price, $5 million will be retained by Mr. Jacob in the form of TerraVest shares. As part of the transaction, John Jacob, entrepreneur, and existing owner of Highland Tank will retain the role of President and continue to manage operations.

TerraVest Industries Inc. (TSX:TVK) completed the acquisition of All the assets of of Highland Tank & Manufacturing Company, Inc. on November 1, 2023. Cash part of consideration was paid in cash using the new credit facility. Cross Keys Capital acted as financial advisor in the transaction.