Business
ACT ENERGY TECHNOLOGIES COMPLETES ACQUISITION OF STRYKER DIRECTIONAL, EXPANDING PRESENCE IN THE SOUTHERN UNITED STATES
ACT Energy Technologies Ltd. (TSX: ACX) ("ACT", the "Company") is pleased to announce that on January 5, 2026 (the "Closing Date") it acquired all the assets of Stryker Energy Directional Services, LLC ("Stryker") for total consideration of USD$24.2 million (approximately CAD$34 million) (the "Transaction"). The purchase price consisted of USD$12.5 million in cash, a USD$6.7 million promissory note, and USD$5.0 million in ACT common shares.
About this update from Stryker Corporation
[{"type":"text","content":"CALGARY, AB, Jan. 6, 2026 /CNW/ - ACT Energy Technologies Ltd. (TSX: ACX) ("ACT", the "Company") is pleased to announce that on January 5, 2026 (the "Closing Date") it acquired all the assets of Stryker Energy Directional Services, LLC ("Stryker") for total consideration of USD$24.2 million (approximately CAD$34 million) (the "Transaction"). The purchase price consisted of USD$12.5 million in cash, a USD$6.7 million promissory note, and USD$5.0 million in ACT common shares.","length":528,"tagName":"p"},{"type":"text","content":"Stryker, founded in 2010 and based in Conroe, Texas, is a well-established directional drilling services provider with a highly experienced management team and a strong operating history across the Southern United States. In 2025, Stryker averaged approximately 17 active jobs per operating day, including work utilizing RSS technology. Stryker's existing management team will lead the business, ensuring continued strong customer service and long-term alignment with ACT shareholders.","length":489,"tagName":"p","attribs":{}},{"type":"text","content":""Stryker has built a strong brand and a proven reputation for delivering high-performance directional drilling services to customers across the Southern U.S.," said Tom Connors, President and CEO of ACT. "We are excited to welcome Stryker's management team and employees to ACT. Their expertise and operational track record will strengthen our U.S. platform and enhance our ability to serve customers with high-value drilling technologies. The acquisition of Stryker, which relies on rented third-party mud motors for approximately one half of its active jobs, presents a meaningful opportunity for ACT to supply motors from our existing inventory, immediately reducing rental expenses and expanding margins. Their RSS fleet and deep experience in deploying and servicing MWD tools further complement our technology-focused strategy. We expect the cash flow generated by Stryker to pay back in less than two and a half years, with additional upside as synergies are realized."","length":1000,"tagName":"p","attribs":{}},{"type":"text","content":"TRANSACTION HIGHLIGHTS","length":22,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"Expands ACT's scale and presence...