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VANCOUVER, British Columbia, June 30, 2025 (GLOBE NEWSWIRE) — Finning International Inc. (TSX: FTT) (“Finning” or the “Company” or “we”, “our” or “us”) announced today that we have successfully completed the previously announced sale of 100% of our mobile on-site refueling business, operating through our subsidiaries 4Refuel Holdings Limited, Midnight Holding, Inc., and their respective affiliates (collectively “4Refuel”), to affiliates of H.I.G. Capital (“H.I.G.”).
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In addition, on May 15, 2025, Finning and the other shareholders of Compression Technology Corporation (“ComTech”) closed the previously announced sale of ComTech to a third party.
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“We are pleased to have completed the sale of 4Refuel and ComTech and wish the teams continued growth and success in the future,” said Kevin Parkes, President and CEO of Finning International. “These transactions represent another important step in executing our strategy to simplify our business and focus on our core dealership operations, unlocking invested capital, and increasing pro-forma return on invested capital.”
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Finning’s second quarter results will include ComTech, until May 15th, and 4Refuel for the full quarter, all presented in discontinued operations.
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About Finning
Finning is the world’s largest Caterpillar dealer, delivering unrivalled service to customers for over 90 years. Headquartered in Surrey, British Columbia, we provide Caterpillar equipment, parts, services, and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland.
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Contact Information
Neil McCann
VP Finance, Capital Markets and Corporate Development
[email protected]
www.finning.com
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Forward-Looking Information Disclaimer
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This news release contains information that is forward-looking. Information is forward-looking when we use what we know and expect today to give information about the future. All forward-looking information in this news release is subject to this disclaimer including the assumptions and material risk factors referred to below. Forward-looking information in this news release includes, but is not limited to, the following: our belief that the sales of 4Refuel and ComTech are another important step in executing our strategy to simplify our business and focus on our core dealership operations, unlock invested capital and increase pro-forma return on invested capital. All such forward-looking statements are made pursuant to the ‘safe harbour’ provisions of applicable Canadian securities laws.
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Unless we indicate otherwise, forward-looking information in this news release reflects our expectations at the date of this news release. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.
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