Mountain Air Drilling Service Company, Grand Junction, CO, is the market leader in providing compressed air for air drilling operations in the San Juan Basin of New Mexico, Colorado and Utah. The Company was founded in 1975 and operated profitably from that point as a family business owned by Rod and Linda Huskey.
In preparation for retirement, the Huskey’s retained The Dillard Anderson Group to assist in the sale of the Company, and to structure a transaction to meet their retirement objectives. DAG tapped its proprietary database to determine likely acquirers for this highly specialized oil and gas drilling services company. After sorting through a number of interested parties, DAG successfully negotiated the sale of Mountain Air to Allis Chalmers Corporation (NASD:ACLM). Mountain Air was sold at a very attractive multiple, and the Huskey’s were retained through a transition period to new management.
Allis Chalmers Corporation, through the leadership of its Chairman, Mr. Mickey Hidayatallah, continues to pursue add-on acquisitions in the oilfield service and rental areas.