CALGARY, Alberta--(BUSINESS WIRE)--Jun 1, 2026--
RWT Capital Corp., one of Canada's leading boutique M&A firms with deep expertise in energy and industrial transactions, today announced the successful closing of the sale of H2Oil Energy Inc. to GFL Environmental Services Inc. RWT Capital acted as the exclusive sell-side advisor to H2Oil Energy throughout the transaction.
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As one of Alberta's largest providers of fluid hauling, vacuum truck, H2S scrubbing, and turnaround services, H2Oil operates a fleet of more than 115 power units across northwestern Alberta and has built a reputation as a trusted partner to upstream oil and gas producers.
GFL Environmental Services Inc. is a diversified environmental services company headquartered in Vaughan, Ontario. The acquisition strengthens GFL’s footprint in Western Canada while giving H2Oil’s team and customers access to the scale and platform of one of North America’s largest environmental and waste management companies.
Reece Tomlinson, Founder and CEO of RWT Capital Corp., said the transaction reflects renewed confidence in Western Canada’s energy economy and continued momentum across the energy services sector. Canadian energy M&A recorded its busiest year in eight years in 2025, with total deal value reaching C$48 billion, more than four times the volume of the prior year, according to S&P Capital IQ data.
That momentum has carried into 2026, with the energy sector ranking first nationally in Q1 deal value at US$14.8 billion across 31 transactions, according to data from Bennett Jones and S&P Global Market Intelligence.
“Canada is being taken seriously as an energy superpower again, and the M&A market reflects that,” said Tomlinson. “Energy companies with real assets and trusted customer relationships, like H2Oil, are exactly what strategic acquirers are after right now.”
Tomlinson said growing interest from both domestic and international buyers is expected to continue driving consolidation across the mid-market energy services sector. RWT Capital continues to see strong momentum in the sector, supported by its track record of delivering above-market outcomes for clients across complex energy and industrial transactions.
“The megadeals have gotten the attention, but the mid-market is where the real activity is happening right now,” she said. “We’re seeing 36 percent of private and PE-backed companies in Canada actively planning acquisitions, and in energy services, the buyer pool for well-positioned regional operators has never been deeper.”
About RWT Capital Corp.
RWT Capital is a Canadian boutique M&A advisory firm with offices in Kelowna, Calgary, and Vancouver. The firm advises mid-market companies on sell-side, buy-side, and strategic transactions across a range of sectors, with particular depth in energy, industrials, infrastructure, and business services. With more than 130 completed mandates across 16+ countries, the firm brings deep regional knowledge and established relationships with strategic and financial buyers across North America.
Reece Tomlinson, Founder and CEO of RWT Capital Corp., said GFL Environmental Services' acquisition of H2Oil Energy reflects renewed confidence in Western Canada’s energy economy and continued momentum across the energy services sector.
PARIS (AP) — The French Navy, with support from the United Kingdom, has intercepted an oil tanker under international sanctions that was traveling from Russia, the most recent effort by nations that support Ukraine to target Russian oil exports helping to finance President Vladimir Putin’s war.
French President Emmanuel Macron announced the interception in a post Monday on X, saying the Tagor was boarded on Sunday in the Atlantic. Soldiers descended on a rope one after another from a French navy helicopter, video released to The Associated Press by the French military showed. It is the latest in a series of French naval interceptions of tankers suspected of links to Russia.
“It is unacceptable that boats skirt international sanctions, violate the law of the sea and finance the war that Russia has been waging for more than 4 years against Ukraine,” Macron wrote. “These ships, that don’t respect the most elementary rules of maritime navigation, are also a threat to the environment and everyone’s security.”
Oil revenue is a key part of Russia’s economy, allowing Putin to pour money into the war effort against Ukraine without worsening inflation for everyday people and avoiding a currency collapse.
Russia is believed to be using a fleet of hundreds of ships to evade international sanctions imposed over the war. France and other countries have vowed to crack down on the sanction-busting so-called “shadow fleet.”
Responding to the latest French interception, Kremlin spokesman Dmitry Peskov said Monday that Russia “considers such actions illegal.”
“They border on piracy,” he said Monday. “We absolutely disagree that they are being carried out in full compliance with international law.”
French maritime authorities said the tanker was intercepted more than 400 nautical miles west of France, in international waters in the Atlantic. It was traveling from the northwestern Russian port of Murmansk, according to the authorities’ statement.
It said the tanker is suspected of operating under a false flag and that the French navy is now escorting it to an anchorage for more checks.
The captain says he is Russian, French prosecutor Stéphane Kellenberger, overseeing the investigation from Brest in western France, said in a statement to AP.
The captain repeatedly refused to comply with French navy instructions, “making it necessary to take control of the vessel," Kellenberger said.
He said his office has opened a criminal investigation on charges of failure to provide proof of a vessel’s nationality, navigating without a flag and refusal to comply with orders.
Tankers previously intercepted by France include the Deyna, boarded in the Mediterranean Sea in March. Another tanker, the Grinch, intercepted in the Mediterranean in January, was released in February after paying a multimillion-euro penalty.
Associated Press writer Elise Morton in London contributed.
In this handout photo provided by the French Army, a French army NH90 helicopter flies over the oil tanker Tagor, which is under international sanctions and was traveling from Russia in the Atlantic Sea, Sunday, May 31, 2026. (French Army via AP)
In this handout photo provided by the French Army, French soldiers use a rope from a NH90 helicopter intercepts an oil tanker that was traveling from Russia under international sanctions, on the Atlantic Sea, Sunday, May 31, 2026. (French Army via AP)
In this handout photo provided by the French Army, an NH90 helicopter intercepts an oil tanker that was traveling from Russia under international sanctions, on the Atlantic Sea, Sunday, May 31, 2026. (French Army via AP)
