Missouri-based Fred Weber Inc., a construction materials and services provider, has acquired General Drilling Inc. in Noblesville. Financial terms of the deal were not disclosed.
Fred Weber Chief Executive Officer Doug Weible says adding General Drilling to the company’s portfolio is a “great strategic fit.”
“Bringing them into the Fred Weber family will enable us to expand our service offerings, add an outstanding group of highly skilled employees, and deepen our presence in the Midwest and South,” Weible said. “We couldn’t be more enthusiastic about the possibilities this combination presents for us and our customers.”
The company says the acquisition represents a 15% increase to its employee base.
“General Drilling has been a family company since my father, Bill Boatman, founded it in 1967,” said President Matt Boatman. “We grew from two drill rigs in southern Indiana to more than 30 operating in nine states. We’ve done this by focusing on the right people, the right training, and the right equipment for the job. Today, we’re excited to be part of an even bigger future with Fred Weber.”
The company says Boatman will remain president of General Drilling. Weible will continue to serve as CEO of Fred Weber and become chairman of General Drilling.
General Drilling’s headquarters will remain in Indiana.