Black Diamond Group told The Canadian Press this week it has signed a deal to acquire the assets of a private oilfield equipment rental company for $7.4 million in cash, including about 500 pieces of rental equipment, comprised primarily of fluid storage tanks, solids holding tanks and matting.
The company said the equipment is located in southern Saskatchewan and Manitoba.
“This acquisition is both accretive and strategic for Black Diamond,” its president and CEO Trevor Haynes said, adding that the assets are situated in the Bakken shale play, where Black Diamond expects continuing exponential growth.
Black Diamond Group, based in Calgary, Alberta, Canada, rents and sells temporary and permanent modular buildings used by resource companies in remote locations as well as oilfield equipment and services.
