Boart Longyear Ltd. has acquired Eklund Drilling Co., a U.S.-based company with headquarters in Elko, Nev., specializing in reverse circulation (RC) drilling. Eklund is expected to add approximately $50 million in annual revenues, and the acquisition will expand the company’s position in global RC drilling services.

“Eklund Drilling Co. has an excellent reputation with many key mining clients, and is a strategic complement to our existing business,” says Scott Alexander, vice president of global drilling services for Boart Longyear. “This acquisition expands our footprint in a key RC market, and we look forward to welcoming Eklund Drillng Co. to the Boart Longyear team.”

Boart Longyear is a global organization headquartered in Salt Lake City, Utah, with offices and operations worldwide. The company is a leading provider of drilling services and drilling products for the global mining industry, and has a substantial presence in environmental drilling, as well as for water exploration and oil sands. Eklund Drilling Co. will add 31 rigs to the Boart Longyear fleet and 170 employees, including a highly regarded and seasoned management team.

“All of us at Eklund Drilling Co. are very excited to join Boart Longyear. They are truly a first-class, world-renowned organization,” says Lance Eklund, CEO of Eklund Drilling Co. “We believe this new partnership offers the perfect fit for our clients, our employees and their futures.”

“Eklund represents the fifth acquisition that we have completed in the past year, and is one of our largest to date,” says Craig Kipp, president and chief operating officer of Boart Longyear. “These acquisitions have expanded our geographic presence, improved our alignment with major mining companies and broadened our range of product offerings.

“Our focused pipeline of available acquisition targets is expected to continue to provide opportunities to execute Boart Longyear’s acquisition strategy, further solidifying our leading global market positions in the fragmented drilling services industry, as well as the drilling products and equipment industry,” Kipp explains.