Exchange Income to Buy TerraPro for C$30 Million

01:44 PM EDT, 08/24/2026 (MT Newswires) -- Exchange Income (EIF.TO) agreed to buy TerraPro for C$30 million, it said in a statement on Monday. The company expects the acquisition to close early in the fourth quarter, subject to necessary approvals. It also plans to issue up to C$4 million in EIC shares to company shareholders to fund the purchase price, with the remainder expected from its credit facility. The purchase price of C$30 million is net of the Sherwood Park, Alberta, property which will be acquired by EIC and subsequently sold with the proceeds being distributed to the TerraPro shareholders, it said. TerraPro manufactures access mats used by the oil and gas industry. "In the latter half of 2026, and the years to follow, we expect to see substantial need for access matting solutions," said Exchange Income chief executive Mike Pyle. "The addition of TerraPro will not only boost our Canadian matting fleet, it will further strengthen our team and ability to serve clients across the country." Shares of the company were last seen down C$1.52, or 1.2%, to C$126.26 on the Toronto Stock Exchange. Price: 126.34, Change: -1.44, Percent Change: -1.13