CASPER, WYOMING February 3, 2015 –NCSG Crane & Heavy Haul Corporation (“NCSG”) announced today that its U.S. subsidiary, NC Energy Services U.S. Inc., has acquired the membership interests of Energy Transportation, LLC (“Energy Transportation”).
Energy Transportation was founded in Casper, WY in 1983 by Dan McGlade. The company is the largest supplier of fully operated and maintained crane services, specialized rigging, and heavy haul transportation in the state of Wyoming and a leader in Montana, Colorado, Texas, New Mexico and adjacent states. Energy Transportation has over 100 Master Service Agreements in place with key customers in the refining, wind, midstream / upstream oil & gas, mining and heavy industrial end markets.
NCSG is acquiring 100% of the equity in Energy Transportation and will assume the ongoing operation including brand names, existing staff, customer and other contracts, leases to the facilities and the working capital of the business. Dan McGlade will continue to be an owner through the purchase of an ownership stake in NCSG.
In a strategy to realize a portion of the value he has built in the business, Dan McGlade is independently selling off the crane and trucking equipment previously owned by the business. NCSG is replacing that equipment by moving in equipment from its existing 20 branch network and buying equipment as necessary, in order to ensure that existing Energy Transportation customers continue to be served by the largest and most modern fleet in the region.
“Energy Transportation has a proud history of providing great service to its many customers in the Western U.S. and we will continue on with that tradition,” said Ted Redmond, President of NCSG. “Dan McGlade has built a great business and management team and we are thrilled to partner with this team to provide crane, specialty rigging and heavy haul services to Energy Transportation’s existing customers. With the current price of oil, we expect that going forward we could have lower utilization in our fleet and as such moving equipment into Energy Transportation’s market only makes sense.”
“I plan to continue to oversee the business, and the existing Energy Transportation team will continue to provide our long term customers with industry leading service” said Dan McGlade. “With access to NCSG’s team of 700 employees and fleet of over 295 cranes, 235 lines of hydraulic platform trailers, 300+ conventional trailers and specialized rigging equipment, we will be able to take on even larger projects/maintenance jobs and meet even more of our customers' needs.”
“This transaction reflects the continued implementation of our North/South Energy Corridor strategy and grows our U.S. presence to over 200 employees and 10 branches,” said Martin Inglehart, Vice President of U.S. Operations for NCSG. “We expect to achieve significant operating benefits from our expanded network of branches. We will have all sizes and types of cranes and trucks/trailers within an easy reach of our customer’s facilities.”