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FlexEnergy Solutions has signed an agreement to sell its entire stake in Flex Leasing Power and Service ULC (known as FlexEnergy Canada) to Enterprise Group, Inc. Enterprise is a Canadian company that provides specialized equipment and services to the energy and resource sector, with a strong focus on technologies that reduce or eliminate greenhouse gas (GHG) emissions. The deal is expected to be finalized in the coming days as both companies complete the remaining documentation. Once the acquisition is completed, Enterprise will become the exclusive distributor of FlexEnergy’s turbine systems in Canada. This move will strengthen Enterprise’s position in providing reliable and efficient natural gas-to-electric power solutions across various industries in the country. FlexEnergy, which has over 20 years of experience in engineering and manufacturing, is known for producing durable, clean gas turbines that work in both off-grid and grid-parallel power systems. These turbines are designed to deliver uninterrupted power, with the flexibility to run on different types of fuel, and are easy to scale and deploy. The sale of its Canadian operations is part of FlexEnergy’s broader strategy to concentrate on its core growth areas in North America. It also gives the company more financial flexibility to grow its fleet and meet the needs of a larger customer base. FlexEnergy’s turbines have consistently performed well in Canada’s tough operating conditions and are valued for their energy efficiency, low emissions, and ability to run on various fuels. Doug Baltzer, CEO of FlexEnergy Solutions, said in a statement, “We are excited about this transformational transaction and the new opportunities it creates for FlexEnergy Solutions. This decision represents a key milestone in our long-term growth strategy. The transaction will provide us with additional capital to invest in growing our fleet and pursuing emerging opportunities in key markets across North America.” Leonard D. Jaroszuk, CEO and Chairman of Enterprise Group, Inc., stated, “We are excited to represent FlexEnergy Solutions in the Canadian market. The Flex Turbine® is truly best-in-class technology, offering unrivaled uptime and dependability. Our two companies share the common goals of delivering reliable, clean power on demand.” They are used in industries such as remote power generation, manufacturing, and even AI data centers that increasingly rely on natural gas for sustainable energy. Through this acquisition, Enterprise will add 17 turbine generators to its fleet and lay the groundwork to introduce FlexEnergy’s new 2.0-megawatt unit, which is designed to meet high standards for energy efficiency. The transaction also includes a number of long-term lease and service agreements, which will provide Enterprise with regular revenue. Bringing FlexEnergy Canada into Enterprise Group will significantly boost Enterprise’s service capabilities. The company will not only continue to serve temporary and short-term power needs but will also be able to offer long-term power installations with flexible lease options, appealing to a broader range of clients. As part of the deal, Enterprise will also take on FlexEnergy Canada’s team of skilled turbine specialists, ensuring continued expertise in the field. This acquisition supports the growing demand for mobile, cleaner natural gas-powered solutions as an alternative to traditional diesel systems. |
