Business Briefs: CDN Controls makes major purchase as part of long-term expansion plans

By Medicine Hat News on December 10, 2024.

Western Canadian energy infrastructure firm CDN Controls has bought a Texas company as part of larger expansion plans, the company announced Monday.

CDN has long operated in Brooks, after buying In-Phase Electric and Instrumentation, and last March opened its 13th location in Medicine Hat.

CDN said Monday it had acquired Dallas and Odessa-based Superior Optimization, which will move corporate headquarters to Houston and be renamed CAVIS Energy (pronounced kay-vis).

“There is an opportunity for CDN to be a global player and industry dominator,” said Dean Fraser, CEO and co-founder of CDN. “The market-driven focus and strong foundational core values of Superior Optimization are similar to CDN, and we are excited to work alongside their leadership and talented industry professionals to provide energy services in this dynamic U.S. market.”

Last March, a Florida-based conglomerate of companies called the Hoffmann Family of Companies purchased a majority of CDN, and the new acquisition is “the first of several planned expansions,” according to a company release.

“There are significant opportunities in the energy services space, and the market is ready for a provider that understands the improvements and innovations ahead for the global energy infrastructure,” said Geoff Hoffmann, co-CEO of the Hoffmann group.

“As the demand grows for large-scale players to undertake this work, we are pleased to see CDN’s entrance into the United States to seize these opportunities.”

Pharmacy buy was fraud, says regulator

An Alberta businessman has been banned from financial markets and fined after a failed plan to purchase a chain of pharmacies, including one in Medicine Hat.

ACT Medical Centres operated pain addiction management services in five Alberta centres before being in sold in 2021 to a B.C. firm, then mostly closed in 2022.

A separate bid to buy the chain by Paul Lackan, according to the Alberta Securities Commission ruling on Dec. 2, was a fraud perpetrated on eight investors.

An ASC panel says Lackan raised about $153,000 toward a purchase, but used about $115,000 on personal expenses. Investors said no definitive agreement to execute the transaction existed.

He has been permanently banned from operating in financial markets and was fined $175,400, as well as $47,000 in costs for the hearing.

Big oil lease bids

The Saskatchewan oil and gas rights auction on Dec. 3 raised $11.4 million from 51 successful bids, including $1.3 million for a 2,400-hectare bock near Eatonia. That was made by land services company Millennium Land, likely on behalf of another buyer.

The whole Kindersley region total was $2.45 million for six leases and four licences, comprising 7,600 hectares. The. Estevan region led the auction totals, bringing in $8.1 million for 29 leases, including $2.35 million alone for a 517-hectare parcel by Velen Inc. ($,500 per hectare).

Total proceeds from five auctions in 2024 were $48.7 million.

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