Lonestar West Inc., a Sylvan Lake-based hydrovac services company, will see its operating fleet of trucks increased from 155 to 161, following the announcement last week that it had acquired certain assets of the Oklahoma-based Hewitt Specialty Services.
Through the US$1.3 million deal, Lonestar will acquire Hewitt’s five hydrovac trucks and one dry vacuum truck. As well, it’s expected the acquisition will add nearly US$3 million in additional annual revenue for the Sylvan Lake company.
“The Hewitt acquisition is consistent with our corporate growth strategy,” said Lonestar CEO James Hovarth, “The addition of a base that services the Cushing, Oklahoma region will complement our existing base in Elk City, Oklahoma and expand our presence in the South Central United States.”
Hovarth also welcomed Brad Hewitt to the Lonestar fold, saying Hewitt would “be a valuable addition to our senior management team.”