February 5 - NCSG Crane & Heavy Haul Corporation subsidiary NC Energy Services is set to acquire Casper, Wyoming-based Energy Transportation.
NCSG is purchasing 100 percent of the equity in the crane, rigging and heavy haul service company, and will adopt the ongoing operation, including brand names, existing staff, customer contracts, leases to the facilities, and the working capital of the business.
Dan McGlade, founder of Energy Transportation, will remain on as an owner through the purchase of an ownership stake in NCSG.
McGlade is independently selling off the crane and trucking equipment previously owned by the business, while NCSG is replacing the equipment by moving in its own machines from the company's existing network, and buying extra as necessary.
"With the current price of oil, we expect that going forward we could have lower utilisation in our fleet and as such, moving equipment into Energy Transportation's market only makes sense," said Ted Redmond, president of NCSG.
McGlade added: "With access to NCSG's team of 700 employees and fleet of over 295 cranes, 235 lines of hydraulic platform trailers, over 300 conventional trailers, and specialised rigging equipment, we will be able to taken on even larger projects and maintenance jobs."