Acquires Assets of Deep Foundations LLC: Second Acquisition in Two-Year Period
Drilling Service Company, a St. Louis-based drilled shaft and deep foundations contractor for commercial, industrial, and utility clients, has acquired the equipment assets of Deep Foundations, LLC, headquartered in Pacific, MO.
“The acquisition of Deep Foundations equipment assets will allow us to improve project efficiency and delivery capacity for our customers,” Jeffrey Murphy, Drilling Service Company executive vice president said.
The equipment assets of Deep Foundations will be incorporated into the extensive inventory of equipment and tools based at Drilling Service Company’s headquarters, warehouse and 21-acre yard facility in St. Louis, MO.
“We are excited about this opportunity to augment our capabilities for existing customers, and to service new customers,” Murphy said.
After a brief transition period, Deep Foundations will be legally dissolved. Deep Foundations is not pursuing new work. All Deep Foundations contracts currently in place will be completed by Drilling Service Company.
“We look forward to providing the same level of service to Deep Foundations’ clients that our clients have enjoyed for over six decades,” Murphy said.
This is Drilling Service Company’s second acquisition of a drilled shaft and deep foundations firm in the past two years. In 2015 Drilling Service Company began the acquisition of Taylor Ridge Drilled Foundations, Inc. of Taylor Ridge, IL.
Drilling Service Company, a second-generation family enterprise owned by brothers Mark Murphy, Bruce Murphy and Jeffrey Murphy, has been in business for 61 years. Deep Foundations, LLC was founded in 2012. Terms of the acquisition were not disclosed.
For further information contact: Jeffrey Murphy (314) 291-1111