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Add-on Acquisition • Energy Services and Equipment

Precision Acquires CWC

On September 7, 2023, Precision acquired energy services and equipment company CWC for 141M USD

Acquisition Context
  • This is Precision’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Precision’s largest (disclosed) transaction.
  • This is Precision’s 2nd transaction in Canada.
  • This is Precision’s 2nd transaction in Alberta.

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M&A Deal Summary
Date September 7, 2023
Target CWC
Sector Energy Services and Equipment
Buyer(s) Precision
Deal Type Add-on Acquisition
Deal Value 141M USD

Target Company

CWC

Calgary, Alberta, Canada
CWC is a contract drilling and well servicing company operating in the Western Canadian Sedimentary Basin with a complementary suite of oilfield services including drilling rigs, service rigs, coil tubing and well CWC Energy Services is based in Calgary, Canada.
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Buyer Overview 1

Buyer

Precision

Calgary, Alberta, Canada
Category Company
Founded 1951
Sector Energy Services and Equipment
Employees5,000
Revenue 1.9B USD (2024)
DESCRIPTION

Precision is a provider of safe and environmentally responsible High Performance, High-Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision was incorporated in 1951 and is based in Calgary, Alberta.

Deal Context for Buyer #
Overall 2 of 2
Sector: Energy Services and Equipment 2 of 2
Type: Add-on Acquisition 1 of 1
State: Alberta 2 of 2
Country: Canada 2 of 2
Year: 2023 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-18 High Arctic Energy Services - Well Servicing Business and Associated Rentals Assets

Calgary, Alberta, Canada

High Arctic Energy Services' Well Servicing Business and Associated Rentals Assets provides rental assets, ancillary support equipment, inventories and spares, and six additional operating facilities in key basins.

Buy $38M

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