Daseke acquires oil rig hauler to enter fast-growing business

By Luke Geiver | June 11, 2018

The largest owner of specialized transportation and logistics offerings in North America has just bolstered its oil rig and energy structure moving capabilities. Daseke Inc. has acquired Aveda Transportation and Energy Services for roughly $42.6 million plus the pay-off of just over $54 million of Aveda debt. “Aveda brings us a blue-chip customer base and a fast-growing, specialized business,” Chairman and CEO Don Daseke, said.

Aveda, one of the largest providers of specialty transportation for the oil and gas industry, focuses on hauling large oil rigs and worksite equipment.

“Daseke’s two core principles are investing in great people and building an organization of scale,” said Daseke. “Beyond the strategic rationale, this transaction also presents numerous synergies not contemplated in the purchase price. Aveda outsources up to 35 percent of its long-standing rig movers to other carriers, and we have the equipment to capture some of this revenue through our various operating companies,” Daseke said, adding that the company has also identified areas where the acquisition will benefit both companies, including in the areas of purchasing, fuel and insurance.

Aveda has operations in most of the major North American markets, including all seven of the major U.S. shale basins. Shale-related work accounts for nearly 90 percent of revenue generated by Aveda. Last year, the company’s equipment (1,300 pieces) was valued at $90 million.

In 2017, Aveda underwent a major uptick in revenue generation, earning $155 million—a 172 percent increase from the previous year.