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Total Energy Services Inc. to Acquire Saxon Energy Services Australia Pty Ltd.

Jan 17, 2024•almost 2 years ago

Acquiring Company

Savanna Energy Australia

Acquired Company

Saxon Energy Services Australia Pty Ltd

CalgaryBrisbaneEnergyOil And GasEnergy

Description

Total Energy Services Inc. (TSX:TOT) has announced that its subsidiary, Savanna Energy Services Australia Pty Ltd., has entered into an agreement to acquire all of the shares of Saxon Energy Services Australia Pty Ltd. for US $37.0 million cash. The acquisition, expected to be completed in the first quarter of 2024, will increase the depth capacity of Savanna Australia’s drilling rig fleet, add experienced local personnel and expand Savanna Australia’s customer base.

Company Information

Company

Savanna Energy Australia

Location

Calgary, Alberta, Canada

About

Savanna Energy offers contract drilling and well servicing services to our customers based in Canada, the US and Australia. ​ Savanna offers potential employees a wide range of career opportunities as well as structured career paths and significant room for advancement. Ongoing training and development is viewed as a key component of all our employees’ careers. We have one of the most high-tech fleets of both drilling and service rigs in the industry and we are leading the way with our approach to safety, training and Aboriginal partnerships. In addition to Drilling and Service rig experience, Savanna is always looking for talented individuals with backgrounds in trades, manufacturing, safety, finance and human resources. High-performing employees also have the chance to expand their career potential with potential opportunities to work for our divisions in Canada, the USA and Australia, gaining valuable cross-cultural experience.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed