Oil States International to buy Australia’s MAC Services for $647 million
15 Oct 2010
Diversified oilfield services company Oil States International Inc, yesterday signed a deal to buy Australian mining accommodation and services provider MAC Services Group (MAC) for A$651 million ($647 million).
Sydney-based MAC is Australia's largest integrated accommodation group, specialising in mixed-use villages for people that work and live in key natural resource regions. A publicly-listed company, MAC currently has over 400 employees and more than 5,000 permanent rooms under management in the Bowen Basin area in Queensland and in Kambalda in Western Australia.
For 2009, the company posted net income of A$27.5 million on revenues of A$113 million.
Houston-Texas-based Oil States International is a diversified oilfield services company and provides specialty products and services to the oil and gas drilling and production companies worldwide.
With locations around the world, Oil States provides remote site accommodations, production-related rental tools, oil country tubular goods distribution and land drilling services as well as a leading manufacturer of products for deepwater production facilities and subsea pipelines.
Oil States is publicly traded on the New York Stock Exchange and had reported revenues of $2.1 billion and net income of $59 million for 2009.
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