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TORONTO, April 4, 2025 /CNW/ - TerraVest Industries Inc. (TSX: TVK) ("TerraVest") is pleased to announce that it has acquired L.B.T. Inc. ("LBT" or the "Company") – a premier North American manufacturer of tank trailers. LBT was acquired for an enterprise value of approximately US$16.0 million, including the assumption of certain liabilities, and subject to customary closing adjustments.
Headquartered in Omaha Nebraska, LBT is a widely recognized manufacturer of tank trailers serving the North American transportation industry. Known for building the "Toughest Tank in the Industry", LBT has a loyal brand following and a long-standing reputation for quality and innovative trailer designs.
"I would like to wish TerraVest continued success as they grow in the bulk tank trailer industry. I very much look forward to watching them extend and grow the legacy of LBT in Omaha and in the aluminum bulk tank trailer industry for many years to come." – Tony Roberts Owner of L.B.T. Inc.
Dustin Haw, Chief Executive Officer welcomes the employees and management of LBT and looks forward to their continuing commitment to the Company and dedication to their customers. "I am excited to welcome the LBT team into the TerraVest family. LBT is a well-recognized tank trailer manufacturer, and we see this as a strategic fit as we look to grow our group of tank trailer businesses. LBT is highly complimentary with both EnTrans and Advance Engineered Products and we expect to see immediate benefits for all the businesses." said Mr. Haw.
"LBT is a great strategic fit for TerraVest and EnTrans, strengthening our position in the industry," said Ryan Rockafellow, CEO of EnTrans. "This combination will provide the newly integrated entity with unmatched capacity, innovation, and efficiency to serve the evolving needs of the North American tanker market. Together, we are poised to deliver greater value to our customers, enhance operational capabilities, and drive long-term growth."
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding our strategic direction and evaluation of the business segments and TerraVest as a whole, the anticipated benefits and synergies for TerraVest resulting from the transaction, the anticipated effect of the transaction on TerraVest's strategy, operations and financial performance, the growth capabilities and opportunities of TerraVest and LBT, TerraVest's plans with respect to its existing portfolio businesses and long-term acquisition strategy and other plans and objectives of or involving TerraVest. Readers can identify many of these statements by looking for words such as "expects" and "will" or similar terms or variations of these words. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.