Star Equity's Alliance Drilling Tools Acquires Utah Machine Shop; Terms Not Disclosed

Wholly owned Alliance Drilling Tools ("ADT") business, part of the Company’s Energy Services division, has expanded its customer support capabilities in the Rocky Mountain region through an affiliate’s acquisition of a privately held Vernal, Utah-based machine shop that provides repair, rebuild, and machining services for well fishing tools, drill pipe, and other drilling equipment. The transaction closed on October 23, 2026, and the shop will work alongside ADT’s existing Vernal operation.

The acquisition serves a critical energy services niche in the region, helping customers reduce downtime and improve rig productivity by getting essential equipment back in service quickly. The business operates from an approximately 6,300-square-foot facility on two acres located minutes from ADT’s existing Vernal operation.

Adding these in-house capabilities makes ADT’s Vernal operation a full-service location. With geographically centralized tool rental, machining, repair, and rebuild services, ADT can support customers across more of the tool life cycle while gaining more direct control over service quality and turnaround time. The expanded capabilities also position ADT to more actively pursue oil and gas drilling work in the Uinta Basin, as well as mining and geothermal opportunities across the region.