Ranger Directional, Inc., Lafayette, LA, is a horizontal directional drilling contractor engaged in constructing bore holes for the placement of pipelines, telecom and other cables underneath rivers, roadways or obstructions. Ranger was founded in 1993 by Mr. Vernon Harris and Mr. Lyle Girouard. The Company’s revenue grew dramatically in the late ’90’s with the growth of the telecommunications construction activity in the U.S.
Ranger engaged The Dillard Anderson Group to assist the Company in finding a strategic partner to enable it to continue its growth. A second objective was to provide liquidity for the owners, as most of their net worth was the Company itself. DAG quickly determined that the telecom construction industry was the most aggressive group of candidates for an acquisition. After a thorough search of this industry, DAG negotiated the sale of Ranger to Quanta Services, Inc. (NYSE:PWR).
Quanta is a nationwide leader in infrastructure construction and has aggressively pursued acquisitions of companies engaged in telecom construction. Ranger shareholders received an attractive valuation compromised of cash and Quanta stock.