KD Trucking bought by Dalmac
EDMONTON — John Babic, president and CEO of Dalmac Energy says his company has closed its $3.5 million acquisition of KD Trucking Ltd. of Wetaskawin Alta.
KD is an 18 year-old private oilfield services company with 31 service units similar to those currently operated by Dalmac. KD’s founder, Mr. Doug Tabler, has agreed to enter into a management contract with Dalmac and will be awarded 126,847 Dalmac share options priced at $0.60. The KD employees will remain with the company and operations will continue to be based out of Wetaskawin.
This acquisition is expected by management to be very accretive to Dalmac’s operations and increases the current number of service units from 105 to 136. In addition to an immediate increase to existing revenue, earnings and cash flows, Dalmac also expects to benefit from the opportunity to deploy its existing products and services into a new geographic market area, the company said in a statement.
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