Laney Purcahased by Investment Group
Laney Directional Drilling Co. (“Laney” or the “Company”), one of the world's largest independent directional boring (Horizontal Directional Drilling - HDD) companies serving the oil and gas pipeline industry, recently announced it has been acquired by an affiliate of Maxim Partners, LLC (“Maxim”) and Falcon Investment Advisors, LLC (“Falcon”).
“Laney is pleased to announce this acquisition, which represents a great opportunity for both our employees and the company to continue driving growth and offer best in class service to our customers.” Laney CEO Kevin Fox said. “We look forward to partnering with Maxim and Falcon to significantly increase our portfolio of HDD capabilities as well as extend the Company’s geographic reach.”
Founded in 1989, Laney is one of the only directional boring companies in North America providing integrated engineering, design and construction services. For more than twenty-five years, the Company has specialized in providing HDD services that address the most complex crossing needs of customers in the global energy, telecommunications and infrastructure markets.
Laney was previously owned by a private equity consortium comprised of Chart Capital Partners, Prudential Capital Partners, Quilvest USA and Basic Materials and Services LLC.
“We are very proud of the accomplishments ofLaney’s management team and employees,” said David Collier, Managing Director at Chart Capital. "Our group acquired a well-run family business and worked closely with a great management team to transform the company into a world-class HDD firm. We are pleased to deliver a company that is stronger in every way. The partnership with Maxim and Falcon will provide for Laney's continued growth and success.” Chart and its co-investors will maintain a minority ownership position alongside Maxim and Falcon.