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.").
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.
"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."
Finning's second quarter results will include ComTech, until May 15th, and 4Refuel for the full quarter, all presented in discontinued operations.
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.
Contact Information
Neil McCann
VP Finance, Capital Markets and Corporate Development
FinningIR@finning.com
www.finning.com
Forward-Looking Information Disclaimer
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.
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.
Forward-looking information, by its very nature, is subject to numerous risks and uncertainties and is based on a number of assumptions. This gives rise to the possibility that actual results could differ materially from the expectations expressed in or implied by such forward-looking information and that our business outlook, objectives, plans, strategic priorities and other information that is not historical fact may not be achieved. As a result, we cannot guarantee that any forward-looking information will materialize. Forward-looking information is provided in this news release to give information about our current expectations and plans and allow investors and others to get a better understanding of our operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose.
Forward-looking statements made in this news release are based on a number of assumptions that Finning believed were reasonable on the day Finning made the forward-looking statements. Some of the assumptions, risks, and other factors, which could cause results to differ materially from those expressed in the forward-looking information contained in this news release, are discussed in our current Annual Information Form (AIF) and in our annual MD&A for the financial risks. We caution readers that the risks described in the annual MD&A and in the AIF are not the only ones that could impact us. Additional risks and uncertainties not currently known to us or that are currently deemed to be immaterial may also have a material adverse effect on our business, financial condition, or results of operation.
