Star Equity completed the acquisition of Alliance Drilling Tools for $12.65m.

Star Equity, a diversified holding company, engages in the construction business, completed the acquisition of Alliance Drilling Tools, a drilling equipment supply and repair company, for $12.65m. “We are excited to announce the addition of such a high quality business to Star’s operating portfolio. Since its founding, ADT has exhibited strong revenue and profitability growth with consistent cash generation. For full year 2024, ADT generated revenue of approximately $10.5m, gross margin of 48%, and Adjusted EBITDA of $2.4m. Its business model allows for the majority of costs, such as freight, repairs, and damages to be passed directly to customers, which minimizes ADT’s operational expenses, capex, and risk exposure. ADT’s owner-operators and the rest of the ADT team have built an impressive business with a tight-knit, long-tenured employee base, and we are grateful to partner with them going forward," Rick Coleman, Star CEO.