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TERRAVEST ANNOUNCES THE ACQUISITION OF MISSISSIPPI TANK AND MANUFACTURING COMPANY

Written on: March 21, 2022

TerraVest IndustriesTORONTO, ONTARIO – TerraVest Industries Inc., (TSX: TVK) (“TerraVest” or the “Company”) announces today that it has acquired all the issued and outstanding shares of Mississippi Tank and Manufacturing Company (“MS Tank”). MS Tank, with operations in Hattiesburg and Southaven Mississippi, and in Vincennes Indiana, is a privately-owned manufacturing company that produces and distributes a broad range of storage and distribution equipment for the propane and compressed gas markets in North America, including transport trailers, bobtail delivery trucks, and various bulk storage tanks.

Dustin Haw, Chief Executive Officer of TerraVest, welcomes the employees of MS Tank and looks forward to their continuing commitment to the business and its customers. “MS Tank is a well–run business with a long and successful history in the propane industry. We are delighted to welcome the employees of MS Tank to the TerraVest family and very excited to be a part of such a great business. MS Tank, with its broad offering of propane equipment and extensive manufacturing capabilities, is a highly synergistic acquisition that strengthens our position as a leading manufacturer of propane storage and distribution equipment.” said Mr. Haw.

TerraVest will acquire MS Tank using existing cash and credit facilities.

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