Koniag Inc. said Jan. 5 that it has acquired Dowland-Bach, an Alaskan-owned company that designs and fabricates control systems and equipment for industrial and commercial applications.
The purchase was made by Koniag Development Corporation, or KDC, a wholly-owned subsidiary of Koniag Inc.
Koniag is the Alaska regional Native corporation owned by the Alutiiq people from the Kodiak area.
The purchase of Anchorage-based Dowland-Bach marks Koniag’s first foray into the Alaska oil industry. Dowland-Bach was founded in Alaska in 1974 to develop fail-safe wellhead and flowline control systems for the Prudhoe Bay oilfield. Several thousand of Dowland-Bach’s wellhead control systems have been installed in extreme locations from the North Slope of Alaska to South America.
Lynn C. Johnson will remain president of Dowland-Bach. The acquisition is not expected to result in any changes to current management or the number of employees. Dowland-Bach has 27 employees.
“Dowland-Bach is already a successful, highly-regarded company, with a demonstrated record of quality service and customer satisfaction,” KDC President and CEO Tom Panamaroff said. “We’re excited about the possibilities and opportunities ahead.”
“The new ownership benefits Dowland-Bach, and its customers, as well, by assuring long-term continuity,” Johnson said. “With Koniag behind us, Dowland-Bach is better positioned to take full advantage of growth opportunities in Alaska, the Lower 48, and overseas.”
In addition to the petroleum industry, Dowland-Bach serves clients in wide-ranging industries such as utilities, construction, aviation, government, telecommunications, commercial fishing and marine.
KDC oversees a portfolio of diverse enterprises including telecommunications, fluid technology, environmental services, logistics, information technology, physical security and real estate investments.
While KDC’s past and present assets have included operations and real estate in Alaska, its purchase of Dowland-Bach is KDC’s first acquisition of an established, successful Alaska company.