DAILY NEWS Nov 11, 2011 8:17 AM - 0 comments

COMPETITION WATCH: TransForce acquires I.E. Miller Services

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2011-11-11

MONTREAL, Que. -- TransForce has reached an agreement to acquire all the shares of I.E. Miller Services, a 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. It operates eight terminals in Texas, Louisiana, Oklahoma, Colorado, and North Dakota.

With about 400 employees, I.E. Miller specializes in mostly high-end, high horsepower rig movements. It also services a base of leading oil and gas producers as well as drilling companies. The transaction will add annual revenues of approximately US$138 million. The transaction is expected to close in the fourth quarter.

"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."


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