Star Equity Holdings Acquires Alliance Drilling Tools

An announcement from Star Equity Holdings ( (STRR) ) is now available.

On March 3, 2025, Star Equity Holdings, Inc. completed the acquisition of Alliance Drilling Tools, LLC, a company specializing in drilling equipment supply and repair for various industries, including oil and gas. This acquisition, valued at $12.65 million, marks a significant step in Star’s growth strategy by establishing a new Energy Services division. The transaction was funded through a combination of cash, debt financing, and preferred stock issuance. The acquisition is expected to enhance Star’s operational capacity and provide a scalable growth platform, benefiting shareholders by expanding the company’s portfolio and leveraging ADT’s industry expertise.

More about Star Equity Holdings

Star Equity Holdings, Inc. is a diversified holding company with three business divisions: Building Solutions, Energy Services, and Investments. The Energy Services division focuses on the rental, sale, and repair of downhole tools for industries such as oil and gas, geothermal, mining, and water-well. The company aims to grow through both organic growth and acquisitions.

YTD Price Performance: 5.32%

Average Trading Volume: 13,832

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $7.32M

For a thorough assessment of STRR stock, go to TipRanks’ Stock Analysis page.