Exchange Income to buy access-matting firm TerraPro for $30M
What's the deal? Exchange Income Corporation (EIC)Dealroom has a profile for this one. Try Dealroom →, a Winnipeg-based, acquisition-focused company spanning aerospace, aviation, and manufacturing, has agreed to acquire Alberta's TerraPro Inc.Dealroom has a profile for this one. Try Dealroom → for $30 million via a plan of arrangement. The deal is expected to close early in the fourth quarter, subject to TerraPro shareholder and final court approval.
The terms: EIC will fund the purchase through up to $4 million in common shares issued to TerraPro shareholders, with the remainder drawn from its credit facility. The $30 million price is net of TerraPro's Sherwood Park, Alberta property, which EIC will acquire and then sell, distributing the proceeds to TerraPro shareholders.
What each side does: TerraPro is a fully integrated access-matting platform serving Western Canada, backed by in-house mat manufacturing, a matting fleet, and specialised equipment. It will be folded into EIC's Environmental Access SolutionsDealroom has a profile for this one. Try Dealroom → Canadian operations.
Why now? EIC is betting on a growth cycle in the Canadian matting market. "We are starting to see heightened interest and investment in long linear projects throughout Canada," said Mike Pyle, chief executive officer of EIC, adding that substantial demand for access matting is expected from the latter half of 2026 onward.
What's the endgame? The acquisition expands EIC's matting fleet and national service capability. Darren Francis, chief executive officer of Northern Mat & BridgeDealroom has a profile for this one. Try Dealroom →, said TerraPro's team would let the company "continue offering our clients top-tier support across the country."
The signal: EIC applies a disciplined strategy of buying profitable, established niche businesses — and this deal positions it to capitalise on expected infrastructure demand. For TerraPro, joining a larger network is a bid to ride the same tailwinds it could not fully capture alone.
