October 17, 2013
Stockholm, Sweden, October 17, 2013: Atlas Copco, a leading provider of sustainable productivity solutions, has purchased the operational assets of Archer Underbalanced Services, a leading service provider of down-the-hole hammers, drill bits and compressed air packages to U.S. land-based oil and gas drilling companies.
Archer Underbalanced, a part of Archer Well Services, based in Houston, Texas, had sales in 2012 of MUSD 34 (MSEK 230). The acquired assets include five service locations near major oil and gas reserves, and a drill bit manufacturing facility in Carlsbad, New Mexico. A total of 75 Archer Underbalanced employees is expected to transition to Atlas Copco.
“We are very pleased with this acquisition as it greatly enhances our distribution and support presence in the U.S. land-based oil and gas drilling industry,” said Johan Halling, Business Area President, Atlas Copco Mining and Rock Excavation Technique. “This creates opportunities for adding several complementary Atlas Copco product lines in the future such as state-of-the-art compressed air solutions through this new distribution channel.”
The acquired business will become part of Atlas Copco’s business area Mining and Rock Excavation Technique.