08:26 AM EST, 12/16/2024 (MT Newswires) -- Secure Energy Services ( SECYF ) on Monday said it is expanding into waste-metal recycling, agreeing to acquire two unnamed scrap metal companies for a combined $175 million. The company also released 2025 guidance.

The oilfield waste-management company said the acquisitions bring scrap-metal yards in British Columbia, Alberta and Saskatchewan with a new hub in Edmonton, Alberta. They also diversify its operations into industrial and residential waste. It has all need regulatory approvals in hand.

"These accretive acquisitions align with SECURE's strategy to advance our position as a leader in waste management ... Establishing a new hub for our metal recycling network in the Edmonton market also strengthens our business with the vertical integration of a mega shredder and greater diversification of scrap supply from increased exposure to residential and industrial waste streams," chief executive Allen Gransch said in a release.

In its 2025 guidance, Secure said it expects to adjusted EBITDA of between $510 million and $540 million, while budgeting $75 million for growth opportunities. It also expects to free cash flow to run between $270 million and $300 million.

Secure shares closed up $0.04 to $16.43 Friday on the Toronto Stock Exchange. The shares have climbed 84% over the past 12 months.