The acquisitive environmental, engineering and technical services group has taken over Newcastle–based Drilling Supplies & Hire Services Ltd, which serves the site investigation, geothermal and water well markets across the UK.
With a team of 13 employees, Drilling Supplies & Hire Services supplies installation and drilling consumables to the drilling industry nationwide, including rig tooling, drilling rigs and a variety of products. It has previously supplied multiple companies across the RSK group.
As part of RSK’s contracting division under the direction of Claire Knighton, Drilling Supplies & Hire Services will remain a supply-only company and will not be involved in contractual or site work.
“RSK has already developed a close business relationship with Drilling Supplies & Hire Services and I am excited to develop this relationship further now that it is part of the RSK group,” said RSK founder and chief executive Alan Ryder. “RSK is gaining a fantastic business with which we see multiple synergies. Both companies will benefit from joining forces and the broadening of our in-house capabilities and the building on our strengths.”
Phil Smith, Drilling Supplies & Hire Services managing director, who will continue to lead the business, said: “Drilling Supplies & Hire Services has built up a great reputation for supply, delivery and quality since it was founded in 2007. Becoming part of a larger organisation with an integrated safety, health, environmental and quality management system will enable us to take the next step as a respected supplier of high-quality products to the ground investigation market and provide new opportunities for us all.”
Drilling Supplies & Hire Services is the latest acquisition under RSK’s funding package from Ares Capital Europe and a revolving credit facility provided by NatWest announced in December 2018. The fast-growing company is investing in the development of new businesses, bolt-on complementary businesses, equipment and capabilities, to expand its service offering and international expansion. The company now employs more than 3,000 staff in more than 100 offices worldwide. It has an annual turnover in excess of £250m.
In the financial year 2018/19, RSK has now completed 12 acquisitions: Central Alliance, Non Destructive Testing Services, Copeland Wedge Associates, Twig, CAN, PB Drilling, BTS Group, the TBF Contracting businesses, Pellings, Dr Tillmanns & Partner, Headland Archaeology and now Drilling Supplies & Hire Services.
These join 10 further businesses that were acquired in the previous two years: ADAS, Dynamic Sampling and JB Site Investigations in 2016/17; Acies, KMGP, Ian Farmer Associates, Cole Jarman, Up & Under Group, CJ Associates and RSKW in 2017/18.