EDMONTON, ALBERTA (July 6, 2018) – NCSG Crane & Heavy Haul announced that the
Company has completed a recapitalization transaction that significantly reduces NCSG’s longterm debt and provides the working capital necessary to take full advantage of new opportunities for growth.
“This deal strengthens NCSG’s balance sheet while also enabling us to generate significant free cash flow going forward, allowing us to sustain and grow our position as one of the largest
operated and maintained crane and heavy haul companies in North America,” said Ted
Redmond, President and CEO. “I would like to personally thank NCSG’s employees, vendors
and customers for their ongoing support through the recapitalization process”
NCSG, headquartered in Edmonton, Alberta provides rigging, lifting and heavy haul services throughout the North/South Energy Corridor of North America. In the U.S., NCSG now has
branches in New Orleans and Baton Rouge, Louisiana; Baytown, Beaumont, and El Paso, Texas; Soda Springs, Idaho; Great Falls, Billings and Sidney in Montana; Salt Lake City in Utah, and Casper, Wyoming.
NCSG has an experienced team of 1000 employees, a diverse fleet of 365 cranes, carry decks and picker trucks, ranging in size from 8 to 1350 tons as well as a highly specialized heavy haul tractor and trailer fleet of over 450 units supplemented by 296 lines of platform trailers / SPMTs.
NCSG services the refining, petrochemical, mid-stream oil & gas, oil sands, upstream oil & gas, LNG, mining, infrastructure, commercial and wind/utility industries.
For more information about NCSG or this transaction contact Darin Coutu, NCSG CFO, or Ted
Redmond, NCSG CEO, at 780-960-6300 or visit www.ncsg.com.
This press release contains “forward-looking information” within the meaning of applicable
Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These statements can be identified by the fact that they do not relate strictly to historical or current facts. We have based these forward-looking statements on our current expectations about future events. Further, statements that include words such as “may,” “will,” “project,” “might,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” “continue,” or “pursue,” or the negative of these words or other words or expressions of similar meaning may identify forward-looking statements. These forward-looking statements are found at various places throughout this press release. These forward-looking statements, including, without limitation, those relating to the implementation of the recapitalization transaction, are necessarily estimates reflecting the best judgment of management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors set forth above and in this press release. Important factors that could cause actual results to differ materially from our expectations include whether: the conditions to implementation of the recapitalization transaction will be satisfied or waived in a timely manner; whether the proposed recapitalization transaction can be completed on the terms contemplated or at all; and whether the anticipated benefits of the recapitalization transaction can be achieved. Unless otherwise noted, NCSG is providing this information as of July 6, 2018, and expressly disclaims any duty to update information contained in this press release.