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Tuesday, July 1, 2025

Canadian Company buys U.S. Company

Aveda Transportation and Energy Services of Calgary, Alta., purchased Hodges Trucking, based in Oklahoma City. The trucking firm was a wholly owned subsidiary of Seventy Seven Energy. It operates about 900 pieces of rig moving and heavy-haul equipment, including 200 trucks and 400 trailers.

โ€œAveda is currently exploring all options for integration and consolidation to maximize future synergies between the two operating entities,โ€ the company announced.

Hodges gross revenue peaked at about US$166 million in 2012 but it has been hit hard by the decline in oil prices, posting a first quarter net loss this year.

The deal is expected to close June 15.