Energy Transportation is being acquired by NC Energy Services, the U.S. subsidiary of NCSG Crane & Heavy Haul, based in Edmonton, Alberta, Canada.
Founded in Casper, WY in 1983 by Dan McGlade, Energy Transportation 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, according to a press release. Energy Transportation has more than 100 Master Service Agreements in place with key customers in the refining, wind, midstream/upstream oil and gas, mining and heavy industrial end markets.
NCSG is acquiring 100 percent 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, according to NCSG. McGlade will continue to be an owner through the purchase and will have an ownership stake in NCSG.
In a strategy to realize a portion of the value he has built in the business, McGlade is independently selling off the crane and trucking equipment previously owned by the business, according to the press release. 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, NCSG said.
“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.”
McGlade said he plans to continue to oversee the business, and “the existing Energy Transportation team will continue to provide our long term customers with industry leading service”
“With access to NCSG’s team of 700 employees and fleet of over 295 cranes, 235 lines of hydraulic platform trailers, 300-plus 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,” McGlade said.
“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.”
NCSG was founded in 1987 and is owned by an investor group led by TriWest Capital and including NCA Partners and management. Over the last nine years NCSG has completed 11 acquisitions and grown to become one of the largest fully operated and maintained crane and heavy haul companies in North America.