# DDH1 and Swick drilling businesses to merge

DDH1 has agreed to merge with Swick's drilling business, creating a combined entity with around $445 million in annual revenue and a fleet of 170 drill rigs. Swick shareholders will own 19.7% of the merged company.

- Type: Acquisition
- Announced: 2021-10-12
- Where: Australia
- Value: $84.0M (115.0M AUD)
- Status: announced
- Capacity: 170 drill rigs
- Products: mineral drilling services
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [DDH1](https://endata.com/companies/58351.md) (acquirer)
- [Swick](https://endata.com/companies/58352.md) (target)

## Sources

- [australianresourcesandinvestment.com.au](https://www.australianresourcesandinvestment.com.au/2021/10/12/ddh1-drums-up-swick-drilling-merger/), 2021-10-12: "Partnering with the leading underground diamond driller in Australia is a natural evolution to our specialised surface drilling operations."
- [stockhead.com.au](https://stockhead.com.au/resources/drilling-companies-ddh1-and-swick-announce-merger-as-mining-services-heats-up/), 2021-10-12: "Partnering with the leading underground diamond driller in Australia is a natural evolution to our specialised surface drilling operations."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.