Lagasco Corp. (TSX-V:LCO) has acquired Calgary-based Hi-Tech Fluid Systems Inc., a privately held energy services company for roughly $15 million.
The combination cash and stock deal will give Lagasco access to a drilling services company at a time when drilling services are scarce.
Hi-Tech provides specialty drilling fluid and services to the oil and gas industry, mainly in the Western Canadian Sedimentary Basin.
Lagasco's share price in the past week remained at $0.80; 52-week high: $0.85; 52-week low: $0.27.