CALGARY, Oct. 29 /CNW/ - Enerflex Systems Income Fund (TSX:EFX.UN) announced today that its special committee of independent directors of the administrator of the Fund has engaged BofA Merrill Lynch as the committee's independent financial advisor. Stikeman Elliott LLP has been engaged by the committee as its independent legal advisor.
As announced last week, the special committee was formed to, among other things, consider and respond to a letter from Toromont Industries Ltd. regarding Toromont's desire to negotiate a proposed business combination.
In addition to the advisors to the special committee, the Fund's financial advisor is Scotia Capital Inc. and its legal advisor is Bennett Jones LLP.
No formal offer or binding business combination has yet been presented to Enerflex or its unitholders, and Enerflex cautions that there can be no assurance that an agreement with respect to a business combination or other form of transaction will be forthcoming.
Enerflex is a leading supplier of products and services to the global oil and gas production industry. Our core expertise is the supply of products and services between the wellhead and the pipeline. Enerflex provides natural gas compression and process equipment for sale or lease, hydrocarbon production and processing facilities, electrical, instrumentation and controls services and a comprehensive package of field maintenance and contracting capabilities. Through our ability to provide these products and services in an integrated manner, or as standalone offerings, Enerflex offers its customers a unique value proposition.
Headquartered in Calgary, Canada, Enerflex has approximately 2,400 employees. Enerflex, its subsidiaries, interests in affiliates and joint-ventures operate in Canada, Australia, the Netherlands, the United States, Germany, Pakistan, the United Arab Emirates, Egypt, Oman, Indonesia and Malaysia. In October 2009 Enerflex was recognized as one of Alberta's Top 50 Employers. Enerflex's trust units trade on the Toronto Stock Exchange under the symbol "EFX.UN".
SOURCE ENERFLEX SYSTEMS INCOME FUND
For further information: For further information: J. Blair Goertzen, President and Chief Executive Officer, Tel: (403) 236-6852, Fax: (403) 720-4385; D. James Harbilas, Vice-President & Chief Financial Officer, Tel: (403) 236-6857, Fax: (403) 720-4385