St. Albert, AB - March 26, 2018 (Investorideas.com Newswire) Enterprise Group, Inc. ("Company" or "Enterprise") (TSX:E) a consolidator of services to the energy sector; focused primarily on specialized equipment rental, announcing today that it has closed the previously reported sale of the assets of its trenchless solutions business unit, Calgary Tunnelling & Horizontal Augering (“CTHA”), to a private arm's length purchaser.

Read this news in full at http://www.investorideas.com/CO/TSXE/news/2018/03261Calgary.asp

Acquired in June 2013 for $12.0 million, over the course CTHA generated approximately $60 million in profitable revenue to Enterprise.

Gross proceeds of the transaction are $20.6 million pursuant to post-closing working capital adjustments. All proceeds from this transaction will be deployed towards reducing Enterprise's debt, placing the Company in the enviable position of being net debt free.

Enterprise's corporate structure will allow the utilization of tax losses to offset the gain on this transaction.

In a news release dated March 15th that announced full year results to December 31, 2017 the Company provided a breakdown adjusted for goodwill and deferred taxes, assets in excess of total debt of $51 million or $0.92 per share. The CTHA transaction improves this position, increasing it to $56 million or $1.01 per share.

Management's execution of its growth plan bodes extremely well for the future of Enterprise as well as its shareholders. Management intends to build and grow its three remaining divisions and acquire additional equipment rental businesses.

There are a number of acquisition targets currently being evaluated by the Company.

The paydown of the PNC credit facility will free up the $25 million line for future acquisition purposes. Management has also been offered a further $15 million line from a prominent U.S. based non-bank lender for acquisition purposes.

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For questions or additional information, please contact:

Leonard Jaroszuk, President & CEO, or
Desmond O'Kell, Senior Vice-President
780-418-4400
This email address is being protected from spambots. You need JavaScript enabled to view it.

Forward Looking Information

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. In particular, this news release contains forward looking information relating to the proposed sale of CTHA, the terms and timing of such transaction and the use of proceeds therefrom. These forward-looking statements are based on assumptions and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the negotiation of a definitive agreement, obtaining all necessary third party consents and approvals, satisfaction or waiver of closing conditions, general economic conditions, industry conditions and competitive factors. There is no assurance that the proposed transaction will be completed on the terms set forth herein or at all. Actual future results may differ materially. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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