Envolve Energy Services has received a strategic investment from Mullen Group Ltd.

Capital Raising
Transaction Details

Fort Capital Partners is pleased to announce the closing of a strategic investment in Envolve Energy Services Corp. from Mullen Group Ltd.

Envolve was formed in 2014 to establish and grow a waste management business servicing the oil and gas industry in northwestern Alberta. In April 2015, the company acquired a waste disposal facility from Nuvista Energy Ltd. and financed a portion of the acquisition with strategic capital from Mullen. Envolve intends on growing its existing footprint in Grande Prairie, AB, by developing additional assets it currently owns.

Envolve retained Fort Capital to provide financial advice and to source capital for general corporate development purposes including the acquisition of the Nuvista facility. Fort Capital’s ability to position and market the opportunity to investors was critical to the success of the financing. The transaction represents a strategic investment from a reputable industry player during an extremely challenging oil and gas financing market. Mullen has invested an undisclosed amount in Envolve, with the intention of participating significantly in funding the company’s future growth plans.

Envolve Energy Services is a private company focused on providing waste management services to the oil and gas sector in Western Canada. Envolve currently operates a waste disposal facility near Grande Prairie, AB, and owns additional disposal wells in the area.

Mullen Group Ltd. owns a network of independently operated businesses providing a wide range of specialized transportation and related services to the oil and natural gas industry in Western Canada and is recognized as one of the leading suppliers of trucking and logistics services in Canada. Mullen is listed on the Toronto Stock Exchange under the symbol “MTL”.

Fort Capital Inc. is an investment bank that works with public and private companies in Canada. The firm draws from collective capital markets experience to provide its clients with proven, accessible and independent investment banking advice and transaction execution. For more information, visit fortcapital.ca.

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