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Bullboard - Stock Discussion Forum Entrec Corp ENTCF

Industrials
"ENTREC Corp is a Canada based crane and transportation solutions provider company. The group provides heavy haul transportation and crane solutions to the oil and natural gas, construction, petrochemical, mining and power generation industries. In addition, the company is also involved in providing logistics services. It principally operates in Canada and United States, of which majority of... see more

GREY:ENTCF - Post Discussion

Entrec Corp > Does anyone know?
View:
Post by pharesf on Dec 13, 2019 8:04pm

Does anyone know?

Does anyone have any idea of what went down with this deal? Am i being too wishful to assume any debt was assumed in this deal?
Comment by mjh9413 on Dec 20, 2019 1:21pm
The way NR worded no debt assumed by buyer. Cash is intended to pay down debt and as I stated they needed ~$4MM to be applied to bring them in line with  lenders' covenants. Presumably they'll have at least $10MM to do other things with...but lots of missing date in NR
Comment by exponential1 on Jan 17, 2020 2:32pm
Concur, I'm assuming no significant cranes went in the sale, as they're bound as collateral in the long term debt...  If sold then that portion would need to be paid as well I believe.  So then it's primarily just for the existing MRO crane business...not much of a multiple. No mention of moving all the existing cranes to the US or to Ritchie bros and buying/leasing more new ...more  
Entrec Corp
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