E Enterprise Group Inc

Enterprise Group, Inc. ("Enterprise," or "the Company") (TSX:E) is pleased to
provide an update on the integration of Hart Oilfield Rentals Ltd. ("Hart"). The
Company acquired Hart, one of Western Canada's most highly regarded oilfield
service providers, for a cost of $22.6 million. 


Enterprise completed its acquisition of Hart on January 3, 2014, and has already
made significant advancements towards the integration of this highly
complementary new business unit. Highlights include:




--  Hart's vendors and chief executives, Gordon and Bonnie Hart, have both
    signed two-year management agreements with Enterprise. Five other
    Hartexecutives have also signed five-year management agreements,
    completing the transition of Hart's senior management. 
--  Work has begun on a new Enterprise location in Fort St. John, British
    Columbia. This office is expected to house not only a new Hart office,
    but also offices for Artic Therm and Calgary Tunnelling& Horizontal
    Augering Ltd.("CTHA"). 
--  Logistics are currently being streamlined to allow CTHA and Artic
    Thermto utilize Hart's six existinglocations - five in Alberta and one
    in British Columbia - resulting in both increased productivity and
    reduced transportation costs. 
--  Hart has commenced the utilization of inventory from Artic Therm in lieu
    of third party rentals, resulting in increases in operating margin. 
--  Enterprise is finalizing the purchase of new additions to Hart's fleet
    of modular units. In total, Enterprise expects to deploy a total
    of$9.4million towards developing this fleet. The Company's work to date
    has confirmed its original estimate that a full year's deployment of
    these new units could increase Hart's annual revenue and EBITDA to$29.9
    million and $12.0 million, respectively. 



Hart is a full service oilfield site infrastructure company, providing its
customers both site services and equipment rentals. Hart's equipment fleet
consists of approximately 1,500 owned pieces and an additional 500 pieces that
have been rented in order to fulfill demand. This fleet provides on-site support
for oilfield drilling and completion operations, and includes both traditional
well site equipment and Hart's 'combo' equipment, modular designs that have been
proven to significantly increase site efficiency. Hart both designs and
manufactures this proprietary equipment, and currently possesses 14 pending
patents on its industrial modular design assets. During its most recent fiscal
year, Hart generated $22.9 million of revenue and $7.2 million of EBITDA, and
has grown these metrics at CAGRs of 22% and 37%, respectively, over the past
four years.


"We are very excited to have completed the acquisition of Hart, and are eager to
rapidly integrate their business into our own," stated Leonard D. Jaroszuk,
Enterprise's President and Chief Executive Officer. "During 2013, Enterprise
demonstrated its ability to successfully integrate acquisitions without
disrupting growth. A key component of our integration strategy is our ability to
retain and develop leaders within the businesses we acquire. I'm accordingly
thrilled that Gordon and Bonnie Hart, as well as the rest of Hart's executive
team, have formally joined the Enterprise family." 


"We expect the addition of Hart will be both immediately accretive and create
multiple benefits for our business. Most importantly, this acquisition
significantly enhances our ability to capitalize on the potential that we
believe exists within the equipment rentals market, allows Enterprise to
leverage Hart's existing impressive customer base, and provides us with
immediate entry to six very strategic locations. The synergy between Hart and
Artic Therm is particularly exciting. Both share a very similar customer base.
By integrating these divisions, we can combine their sales forces, greatly
expand our product offerings, and create a more complete customer experience."


"Hart has witnessed rapid and encouraging returns on its recent investments. Its
assets operate for up to 20 years, and offer an average gross payback period of
less than 18 months. As a result, new assets have generated an average of more
than 60% EBITDAS margin to Hart's bottom line. With the appropriate capital
support, we believe we are capable of as much as doubling both Hart's revenue
and EBITDAS over the next three years.Our confidence in this potential is
bolstered by Hart's innovative offerings. These proprietary modular units are
totally unique within the oilfield service industry, and provide Hart with a
considerable competitive advantage. We look forward to maximizing the
opportunity provided by this competitive advantage over the year ahead."


Enterprise is also pleased to announce that T.C. Backhoe and Directional
Drilling ("TC") continues to secure new business opportunities. TC has entered
into a Master Service Agreement to provide Hydro-Vac services for a joint
venture project between a major oil company and one of North America's largest
energy companies. This agreement, which will remain in place until the
conclusion of 2016, is expected to generate $1.3 million of annual revenue. TC
also has increased the scope of its Master Service Agreement with one of North
America's largest pipeline and natural gas companies, which was previously
announced on October 25, 2013. This agreement, which was initially expected to
generate $3.0 million in total revenue, is now expected to generate $4.2 million
in total revenue over the next 20 months. In order to support both these
projects and future growth, TC has ordered two additional Hydro-Vac units, over
and above the eight units ordered and announced in October, 2013. 


"We're pleased to announce the continued growth of TC's project pipeline,"
concluded Mr. Jaroszuk. "TC, like Hart, is proud of its commitment to
exceptional customer service. This commitment is a major factor in TC's success,
and we are excited to both execute upon these projects and further grow this
division over the course of 2014."


About Enterprise Group, Inc. 

Enterprise Group, Inc. is a consolidator of construction services companies
operating in the energy, utility and transportation infrastructure industries.
The Company's focus is primarily construction services and specialized equipment
rental. The Company's strategy is to acquire complementary service companies in
Western Canada, consolidating capital, management and human resources to support
continued growth. Enterprise became a Western Canadian leader in flameless heat
technology in September 2012 with its acquisition of Artic Therm International
Ltd., a leader in underground infrastructure construction in June 2013 with the
acquisition of Calgary Tunnelling& Horizontal Augering Ltd., and a leader in
oilfield service rentals in January 2014 with the acquisition of Hart Oilfield
Rentals Ltd.


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. 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.


Non-IFRS Measures 

The Company uses International Financial Reporting Standards ("IFRS"). EBITDA is
not a measure that has any standardized meaning prescribed by IFRS and is
therefore referred to as a non-IFRS measure. This news release contains
references to EBITDA. This non-IFRS measure used by the Company may not be
comparable to a similar measure used by other companies. Management believes
that in addition to net income, EBITDA is a useful supplemental measure as it
provides an indication of the results generated by the Company's principal
business activities prior to consideration of how those activities are financed
or how the results are taxed. EBITDA is calculated as net income excluding
depreciation, amortization, interest and taxes.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Leonard D. Jaroszuk - President & CEO, or
Desmond O'Kell - Vice President
780-418-4400
contact@EnterpriseGRP.ca
www.EnterpriseGRP.ca

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