Drilling company DDH1 Holdings Pty Ltd (“DDH1”) is pleased to announce that Ranger Drilling (“Ranger”), has joined the DDH1 group of companies, effectively immediately. The group now consists of three world-class drilling businesses, namely DDH1 Drilling, Strike Drilling and Ranger Drilling.
Ranger was established in 2005 by Matt and Julie Izett and specializes in providing Reverse Circulation drilling services to customers operating in the West Australian iron ore market.
DDH1 Chief Executive Officer, Sy van Dyk commented: “Ranger will continue operating as a separate company, under the same management from the same premises. DDH1’s intention is to continue to grow the Ranger brand, while preserving their culture of leadership, productivity, innovation and safety. These are the qualities that attracted our investment in Ranger and we want to ensure it is protected and fostered going forward”.
Ranger’s Managing Director, Matt Izett said: “DDH1 is a natural partner for Ranger to further our growth ambitions by providing additional capital to the business in a cost-effective and disciplined manner. I look forward to continue leading and growing the business Julie and I founded in 2005 and to deliver superior drilling solutions to our loyal customer base, whilst contributing at a senior level to the wider group’s operations”.
DDH1 Drilling, Strike Drilling and Ranger’s capabilities are highly complementary and the combination of the businesses provides the opportunity to offer clients the full suite of drilling services required across the resource life cycle, from discovering new deposits to extending existing mine lives. The group’s drill rig fleet is modern, standardized, safe and highly productive.
DDH1 Managing Director, Murray Pollock said: “DDH1 and Ranger have worked together on a shared contract basis, during which time we have observed Ranger’s premium customer service offering, the productivity gains delivered by their modern fleet and quality management team led by Matt Izett. Together, we are committed to being the drilling contractor and employer of choice in the Australian drilling industry.
“The group now has 84 Tier 1 drill rigs and employs over 700 staff to provide our customers with end-to-end drilling solutions. I am also pleased that as part of the transaction Matt and Julie Izett will become significant shareholders in DDH1 Holdings Pty Ltd and we look forward to working with them”.
Byron Beath, Director of DDH1 and Managing Director at Oaktree Capital Management, L.P. (“Oaktree”), investment advisor to funds which are DDH1’s major shareholder, commented: “Ranger represents a high growth addition to the DDH1 platform and demonstrates the execution of our strategy to partner with industry-leading operators like Matt Izett. Ranger’s combination of best-in-class drill crews and management coupled with state-of-the-art drilling equipment presents an exciting opportunity for DDH1 to support material capacity growth to meet customer
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