Exchange Income Corporation has agreed to acquire TerraPro for $30 million, expanding its Environmental Access Solutions operations as management anticipates stronger Canadian demand for access matting tied to large infrastructure projects.
The acquisition is expected to close in early Q4, subject to TerraPro shareholder approval and final court approval.
EIC plans to fund up to $4 million of the purchase price with common shares and the remainder through its credit facility.
The $30 million purchase price excludes TerraPro’s Sherwood Park, Alberta property, which EIC will acquire and subsequently sell, with the proceeds distributed to TerraPro shareholders.
TerraPro operates an integrated access-matting platform across Western Canada.
Its capabilities include internal mat manufacturing, a matting fleet and specialized equipment.
The business will be integrated into EIC’s Canadian Environmental Access Solutions operations.
EIC expects TerraPro to expand its available matting fleet, workforce and ability to support customers nationwide as investment increases in long linear infrastructure projects.
KEY QUOTES:
“In the latter half of 2026, and the years to follow, we expect to see substantial need for access matting solutions.”
Mike Pyle, CEO Of Exchange Income Corporation
“Access to their industry leading network and operational capabilities put us in the best position to benefit from upcoming industry tailwinds.”
Colin Schmidt, President And CEO Of TerraPro
“The integration of TerraPro will allow us to continue offering our clients top-tier support across the country.”
Darren Francis, CEO Of Northern Mat & Bridge
