CALGARY, AB — January 6, 2026 — Leads & Copy — ACT Energy Technologies Ltd. (TSX: ACX) has acquired all the assets of Stryker Energy Directional Services, LLC for USD$24.2 million (approximately CAD$34 million), the company announced January 5, 2026.
The purchase price included USD$12.5 million in cash, a USD$6.7 million promissory note, and USD$5.0 million in ACT common shares.
Stryker, founded in 2010 and based in Conroe, Texas, is a directional drilling services provider with a management team and operating history across the Southern United States. In 2025, Stryker averaged approximately 17 active jobs per operating day, including work utilizing RSS technology. Stryker’s existing management team will continue to lead the business.
Tom Connors, President and CEO of ACT, said Stryker has a proven reputation for delivering directional drilling services to customers across the Southern U.S. He added that Stryker’s expertise and operational track record will strengthen ACT’s U.S. platform and enhance its ability to serve customers with drilling technologies. Supplying motors from ACT’s existing inventory could reduce rental expenses and expand margins, as Stryker relies on rented third-party mud motors for approximately one half of its active jobs, Connors said. He added that Stryker’s RSS fleet and experience in deploying and servicing MWD tools complement ACT’s technology-focused strategy. ACT expects the cash flow generated by Stryker to pay back in less than two and a half years, with additional upside as synergies are realized.
Stryker’s position in the Southern U.S. enhances ACT’s existing operations and increases U.S. job count in the southern U.S. Stryker’s fleet of 10 RSS tools adds to ACT’s U.S. RSS fleet of 30 tools. ACT expects more than CAD$5.0 million in annual synergies, primarily from replacing Stryker’s rented mud motors with ACT-owned assets. The combination of cash, debt, and equity supports management retention and preserves ACT’s financial flexibility. ACT anticipates a payback period in less than two and a half years. The Transaction is expected to be accretive to net income, Adjusted EBITDAS, and Free Cash Flow.
Under the definitive agreements between ACT and Stryker, ACT paid the following consideration: USD$12.5 million in cash; USD$5.0 million in equity, via the issuance of 1,299,394 common shares of ACT; and A USD$6.7 million promissory note issued by a wholly-owned subsidiary of ACT to Stryker, structured as a three-year, 6% subordinated note, with USD$2.5 million repayable on the 12 and 24 month anniversaries of the Closing Date, and the balance of USD$1.7 million repayable on the 36 month anniversary of the Closing Date.
The Acquisition Shares were issued at a deemed price of $5.29 per Acquisition Share for a value of approximately USD$5.0 million. The Acquisition Shares are subject to a four-month statutory hold period under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada. Additionally, the Acquisition Shares are subject to contractual resale restrictions, with 30% of the Acquisition Shares released on the dates that are 12 and 24 months following the Closing Date, and 40% on the date that 36 months following the Closing Date.
In connection with the Transaction, the Company also issued 727,660 common shares of the Company to Stryker at a price of $5.29 per Share, for aggregate gross proceeds of $3.85 million (USD$2.8 million) as a concurrent private placement. The Stryker Shares are subject to a four-month statutory hold period under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada. Additionally, the Stryker Shares are subject to contractual resale restrictions, with 25% of the Stryker Shares released on each of the dates that are 12, 24, 36 and 48 months following the Closing Date.
Estimated pre- and post-closing amounts as at immediately before and after the Closing Date are: Common Shares Outstanding (Basic) $33.14 million Pre-Acquisition and $35.17 million Post-Acquisition; Cash $34 million Pre-Acquisition and $20 million Post-Acquisition; Loans and borrowings $62 million; Exchangeable promissory notes $27.4 million; Promissory note $nil Pre-Acquisition and $9.2 million Post-Acquisition.
Peters & Co. Limited acted as financial advisor to ACT. DS Lawyers Canada LLP served as Canadian legal counsel, and Porter Hedges LLP acted as U.S. legal counsel to ACT and its subsidiaries.
Tom Connors, President & Chief Executive Officer
Rob Skilnick, Chief Financial Officer
ACT Energy Technologies Ltd.
6030 3 Street S.E.
Calgary, Alberta T2H 1K2
Telephone: 403.265.2560
Source: ACT Energy Technologies LTD.
