Manufacturer Atlas Copco 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 is part of Archer Well Services, based in Houston, and had sales in 2012 of $34 million.
The acquired assets include five service installations near major oil and gas reserves, and a drill bit manufacturing facility in Carlsbad, N.M. Atlas Copco expects 75 Archer Underbalanced employees will 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 of 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 Mining and Rock Excavation Technique business area, which provides equipment for drilling and rock excavation and works in underground mining, infrastructure, civil works, well drilling and geotechnical applications.
Atlas Copco is based in Stockholm, Sweden.