MONTREAL: Transportation and logistics company TransForce Inc has acquired all the shares of I.E. Miller Services Inc, a North American provider of rig relocation services including disassembly, transportation and reassembly of oil and gas drilling rigs. Founded in 1936, I.E. Miller is a subsidiary of Complete Production Services Inc. It operates eight terminals located near key North American basins in Texas, Louisiana, Oklahoma, Colorado and North Dakota.
“This latest transaction is an excellent strategic fit for TransForce and underlines our disciplined and selective approach to acquisitions,” said Alain Bédard, chairman, president and CEO of TransForce. “Their established national US footprint creates significant opportunities to provide high value-added rig relocation services to new and existing customers. In addition, the transaction further allows the reinforcement of our oilfield services management team and presence in the energy services sector.”
I.E. Miller has about 400 employees and operates a fleet of rig relocation equipment mostly specialized in high-end, high-horsepower rig movements. It services oil and gas producers as well as drilling companies. The transaction will add annual revenues of approximately US$138 million and is expected to close in the fourth quarter of 2011.