Noblesville underground drilling firm acquired
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Daystar Directional Drilling, a provider of underground utility services headquartered in Noblesville, is under new ownership. The company has been acquired by Ohio-based CST Utilities, though financial terms of the deal were not disclosed.
CST provides excavation, underground, and maintenance services to public utilities, telecom providers, and other businesses. The company said the acquisition marks a significant expansion of its Midwest footprint.
Jerry Watson III, president of Daystar Directional Drilling, will remain with the combined company and lead the Indiana operation, CST said in a news release. He will also maintain an ownership stake in the company.
“I am excited to see Daystar merge with CST. This will provide our employees and customers with a stronger team that will benefit all,” Watson said in the release. “There is so much opportunity for high quality companies like ours to leverage as we serve our clients and create a great workplace for our employees.”
Multiple messages from Inside INdiana Business seeking more information on the acquisition were not returned.
CST did not specify whether the acquisition would have any impact on jobs but noted that the Daystar team will continue to operate out of its Noblesville location.