TERRAVEST ANNOUNCES THE ACQUISITION OF TANKCON FRP INC.

TERRAVEST ANNOUNCES THE ACQUISITION OF TANKCON FRP INC.

TORONTO, May 1, 2025 /CNW/ - TerraVest Industries Inc. (TSX: TVK) ("TerraVest") is pleased to announce that it has acquired Tankcon FRP Inc. as well as certain assets from affiliated entities ("Tankcon" or the "Company") – a premier North American manufacturer of fiber-reinforced polymer ("FRP") tank trailers and lessor of such trailers. Tankcon was acquired for an enterprise value of approximately CAD$27.8 million, and subject to customary closing adjustments.

Headquartered in Blainville Québec, Tankcon is a widely recognized manufacturer of FRP tank trailers serving the North American transportation industry.

"I am delighted that TerraVest has chosen to acquire Tankcon and I look forward to seeing them grow the business to the next level. Tankcon is an important legacy for me and I am confident it will be a leader for many years to come in the FRP tank trailer industry." – Alain Chatillon Owner of Tankcon FRP Inc.

Ryan Rockafellow, Chief Executive Officer of Entrans welcomes the employees and management of Tankcon and looks forward to strengthening the Company's position in the industry and offer customers more access to FRP trailers.  "Tankcon is a leading manufacturer in the FRP tank trailer market, and we see this as a strategic fit as we look to grow our group of tank trailer businesses.  Both EnTrans and Advance Engineered Products will assist the Company in growing and we expect to see immediate benefits for all the businesses." said Mr. Rockafellow.

Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements.  All statements other than statements of historical fact contained in this news release are forward-looking statements, including, without limitation, statements regarding our strategic direction and evaluation of the business segments and TerraVest as a whole, the anticipated benefits and synergies for TerraVest resulting from the transaction, the anticipated effect of the transaction on TerraVest's strategy, operations and financial performance,  the growth capabilities and opportunities of TerraVest and Tankcon, TerraVest's plans with respect to its existing portfolio businesses and long-term acquisition strategy and other plans and objectives of or involving TerraVest. Readers can identify many of these statements by looking for words such as "expects" and "will" or similar terms or variations of these words. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

By their nature, forward-looking statements require us to make assumptions and, accordingly, forward-looking statements are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. We caution readers of this news release not to place undue reliance on our forward-looking statements because a number of factors may cause actual future circumstances, results, conditions, actions or events to differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements and the assumptions underlying the forward-looking statements.

Assumptions and analysis about the performance of TerraVest as a whole and its business segments, the markets in which the business segments compete and the prospects and values of the business segments are considered in setting the business plan for TerraVest, plans and/or ability to pay dividends, outlook for operations, financial position, results and cash flows, other plans and objectives and in making related forward-looking statements. Such assumptions include, without limitation, demand for products and services of the business segments in respect of the Canadian and other markets in which the businesses are active will be stable, and that input costs to business segments do not vary significantly from levels experienced historically. Should any of these factors or assumptions vary, actual results may differ materially from the forward-looking statements.

SOURCE TerraVest Industries Inc.