Oilfield provider names last two acquisitions

CALGARY — Cordy Oilfield Services Inc. of Calgary says it will acquire Battle River Oilfield Construction Ltd. and Hartwell Oilfield Services for a combined $37.9 million in cash and shares.

The company, which recently announced its intensions to buy three carriers, acknowledged it will pay $28.3 million and for $9.6 million for Battle River Construction and Hartwell respectively, reports Canadian Press.

The third acquisitions, previously announced, is Sphere Drilling Fluids, which provides drilling services to the mining, construction, geotechnical, heavy oil and tar sands industries.

Cordy is chaired by David Mullen of Mullen Trucking.

Manning, Alta.-based Battle River has 50 pieces of heavy-duty machinery and up to 175 employees. Cordy said the company’s owners and senior execs would continue to run the business.

Hartwell is a 12-year-old provider of vacuum truck services with 25 trucks and 30 employees.

Cordy CEO Sid Dutchak said Battle River and Hartwell are expected to contribute more than $10 million in annual earnings before interest, taxes, depreciation and amortization, while adding further values through synergies in other operations.

— with files from Canadian Press