IDM Acquires Louisiana Electric Rig Service

IDM Group completed its acquisition of Louisiana Electric Rig Service, Inc., a Rosenberg, Texas-based provider of SCR Drives, Generator Controls, Top Drive Controls and custom engineered products along with their field support services for the global offshore drilling industry, and the simultaneous merger of IDM's existing AC electrical systems and controls business into Louisiana Electric.

By combining Louisiana Electric Rig Service with IDM's company of AC, variable frequency drives (VFD), controls, systems and field services, it creates a company with a complete lineup of electrical systems and controls for the global land and offshore drilling industry. The combined company will operate as Louisiana Electric Rig Service.

In addition, the company's substantial scale and resources will enable it to deliver industry leading products and services that address the rapidly expanding need for both new AC and SCR drive systems, the upgrade of existing drilling equipment and field service of existing installations provided by most competing manufacturers. The combined company will be able to accelerate investments, meet a wider set of customer needs through a richer solution set and have a significantly greater opportunity to grow into new markets.

Byron Dunn, President and Chief Executive Officer of IDM Group said, "Louisiana Electric is an icon in the drilling industry, and we are proud to have the company and its senior management join the growing IDM Group."

Ronnie Cothron, President of Louisiana Electric Rig Service added, "Louisiana Electric owners and management are pleased to join the IDM Group family of companies. This transaction provides Louisiana Electric a complete AC and SCR electrical, controls equipment, and field services platform, on land and offshore, with global reach."