Hyduke to acquire Western Manufacturing in $5.5M share purchase deal
Expands oilfield services company’s capabilities to design, fabricate and manufacture equipment.
NISKU, Alta. — Hyduke Energy Services Inc. is acquiring a manufacturer of tanks and other equipment for the petroleum industry in a $5.5 million share purchase deal.
Western Manufacturing Ltd., based in Hythe, Alta., makes production vessels and related equipment in the heart of the Montney and Duvernay oil and gas development plays in northwest Alberta and northeast BC.
Hyduke, an integrated oilfield services company based in Nisku, Alta., will also acquire the assets of Ledarco Industries Ltd. a Western affiliate involved in the regional transportation of manufactured components, raw materials and finished products.
Western and Ledarco design, manufacture and fabricate tanks, frac fluid vessels, frac sand handling equipment, and other equipment used to produce oil and gas and natural gas liquids.
The acquisition is part of Hyduke’s strategy to become a diversified designer, fabricator and manufacturer of oilfield equipment.
Lonny Thiessen, founder and CEO of Western, will remain with Western as president of the subsidiary.