McKay drilling sells to Canada’s Major Drilling

$$BDO.LiveSite.Deals.Industry$$Natural resources & Energy
$$BDO.LiveSite.Deals.SubIndustry$$Natural resources
$$BDO.LiveSite.Deals.ClientName$$McKay Drilling

McKay Drilling entered into an agreement to sell 100% of shares to Canadian-based global drilling services company Major Drilling Group International Inc. (TSX:MDI) for a transaction value of up to $80 million.

Founded in Kalgoorlie in 1990 and now headquartered in Wangara, McKay Drilling has grown to become one of Western Australia’s leading exploration and production drillers, with more than 200 staff, a fleet of high-calibre track- and truck-mounted drill rigs and longstanding partnerships with Tier 1 mining companies.

The buyer, Major Drilling, is one of the largest mining-focused drilling services companies in the world, with operations throughout Canada, the United States, Mexico, South America, Asia and Africa. The 100% acquisition of McKay Drilling represents a significant strategic step into the Australian market for Major and a beachhead for further growth in the Asia Pacific region.

The cross-border deal was facilitated by members of BDO’s Mergers & Acquisitions team.

I would like to thank all of our staff for their hard work and dedication in helping to grow our business to where it is today, our clients for their continued support, and BDO Perth for their assistance throughout the sale process.