Thank you, Jason. Good morning and thank you for joining us to discuss our fourth quarter and 2020 year-end results. I'd like to start by saying that I'm extremely proud of our team at Black Diamond for the accomplishments achieved this past year against a unique and challenging backdrop brought on by the COVID-19 pandemic.
We have continued to execute on our plan to grow and diversify our business and believe the fourth quarter results are yet another dataset that shows that our plan is working.
We expect to carry on this momentum into 2021 and are seeing supportive tailwinds across essentially all of our segments. Highlights in the quarter include the acquisition of Vanguard Modular, record rental revenue generation in our MSS division, a $3 million funding grant from the Opportunity Calgary Investment Fund to support growth of large LodgeLink and another quarterly record of room booking volumes within LodgeLink. Since the start of the 2021 year, we've also secured new project awards that increase our WFS contracted revenue by over $36 million. In the MSS segment, rental revenue grew to $11.3 million, or by 31% from Q4 2019, which is a fourth consecutive quarterly record. Included in our fourth quarter results is one month of contribution from our acquisition of Vanguard Modular.
As mentioned, during the quarter, the company closed the acquisition of Vanguard Modular Building Systems for US$61.7 million, including US$3 million of deferred receivables. The transaction added approximately 2,200 Modular Space rental assets to our U.S. MSS fleet and strengthened our position in the attractive high return education markets in the southeastern and Gulf Coast States. To date integration of Vanguard is progressing with annual synergies of approximately US$500,000 targeted for exit Q4 run rate.
More importantly, we are experiencing increased opportunities through our combined platform in all segments within Black Diamond, allowing us to leverage our larger market presence. The MSS segment remained resilient throughout 2020 and the outlook remains positive as we are seeing ongoing opportunities to put organic growth capital to work at attractive rates of return across North America.
We expect steady and continued growth in rental revenues as a result of strong utilization, increasing rental rates, ongoing fleet additions and increased returns through value-added products and services, or VAPS. Despite COVID-19 related challenges throughout the year and into the fourth quarter, our WFS business unit is also seeing positive momentum. Since the start of 2021, as I mentioned, the large format camp rental business has added more than $36 million of new contracted revenue, which includes our previously announced Australian contract, additional assets and services in support of the coastal gasoline project and further contracts with mining customers in Eastern Canada. It appears that our U.S. wellsite and lodging businesses have troughed in terms of utilization and are seeing a gradual recovery, which depending on the pace with which COVID-19 restrictions ease should continue throughout the year. Australia continues to experience strong utilization rates and we expect this business unit will continue to put organic growth capital to work.
We also remain very well positioned with respect to the Goldboro LNG project.
As we had announced in October of 2020, Black Diamond and our Mi'kmaq indigenous partners in Nova Scotia received a letter of award to provide the Goldboro LNG project with a turnkey accommodation solution for up to 5,000 workers. We remain highly engaged with the customer and key stakeholders.
However, we understand that the project must still clear funding hurdles before a final investment decision can be made.
Finally, we remain very positive regarding our LodgeLink platform, a digital marketplace offering that is bringing innovation to the crew travel industry. LodgeLink has had another quarterly record in room nights booked in the fourth quarter with approximately 36,000 room nights of bookings, despite pandemic related headwinds for the travel industry. At the end of 2020, the platform had approximately 2,500 listed properties representing roughly 242,000 rooms of capacity and services 582 distinct corporate customers. Key growth indicators, including room night bookings, customer and supplier growth continue to scale higher in the first quarter of 2021. We believe the platform is positioned for strong growth this year, assuming pandemic related travel restrictions continue to ease in the U.S. and Canada.
During the quarter, we also announced that LodgeLink had received up to $3 million of funding from the Opportunity Calgary Investment Fund. The funding is conditional on various hiring metrics being achieved over the next five years. This ground will allow the platform to efficiently recruit tech talent to our Calgary technology hub.
As we look forward, we expect to show increased diversification by region and industry segment, as the full effect of Vanguard is included, and our WFS segment continues to grow in the mining sector of Eastern Canada. Overall, we are optimistic that 2021 will show improving results as we continue to progress our strategic objectives of growing and diversifying our MSS business, unlocking operating leverage from our existing fleet of remote accommodation assets in WFS and scaling our LodgeLink travel tech ecosystem.
We are off to a good start. I will now turn the call over to Toby for some further details on the fourth quarter financial results. Toby?