07:48 AM EDT, 05/09/2025 (MT Newswires) -- Finning International ( FINGF ) , which rose 4% on Thursday, overnight said it agreed to sell 100% of its mobile on-site refueling business, 4Refuel, to affiliates of H.I.G. Capital for about $400 million.

The purchase price includes $330 million payable in cash upon closing, a $50 million note and up to $20 million payable over two years if certain milestones are met. as part of the deal, which is expected to close in the third quarter, H.I.G. Capital will also assume lease liabilities and other indebtedness totaling about $50 million.

"This transaction will allow us to simplify our operations and focus on i) maximizing product support; ii) generating improved and more resilient earnings by lowering our annual SG&A; and iii) creating sustainable growth around our core dealership operations," said Finning ( FINGF ) Chief Executive Kevin Parkes.

Proceeds of the deal are expected to be used to buy back shares, pay back debt and reinvest into core dealership operations. The company expects the deal and planned share buybacks to be accretive to earnings per share.

Separately, Finning ( FINGF ) and other Compression Technology shareholders agreed to sell the company for a total implied deal value of $40 million. The deal is expected to close by the end of June.

Shares of the company closed up $1.57 to $41.0 on Thursday on the Toronto Stock Exchange.