Castle Harlan Completes Purchase of Anchor Drilling Fluids USA
17 4월 2008 - 4:04AM
PR Newswire (US)
NEW YORK, April 16 /PRNewswire/ -- Castle Harlan, Inc., the New
York private equity investment firm, announced today it has
completed its purchase of Anchor Drilling Fluids USA, Inc., the
nation's largest independent provider of drilling fluids and
fluid-handling services for onshore oil and gas drilling. The
transaction was valued at approximately $250 million. Anchor, based
in Tulsa, Oklahoma, has more than 20 operating facilities
stretching across eight states from Texas to Wyoming. Anchor
focuses on providing proprietary drilling fluid blends and
customized engineering services to complex onshore drilling
operations in many of the fastest growing drilling regions in the
United States. William Pruellage, the Castle Harlan managing
director who led the firm's acquisition team, expressed confidence
that Anchor will continue to show solid growth in the future. "The
company has an experienced management team with strong customer
relationships and a growing position in the most active onshore oil
and natural gas regions in the country," he said. Castle Harlan
said that Bob West, Anchor's chief executive officer, his son Phil
West, the president and chief operating officer, and other members
of senior management will continue to hold a significant equity
interest in the company. Anchor had been a portfolio company of
American Capital Strategies, Ltd. (NASDAQ:ACAS), a private equity
firm based in Bethesda, Maryland. Castle Harlan has owned a number
of companies in the energy industry over the years, including: --
RathGibson, a leading manufacturer of highly engineered premium
stainless steel and alloy welded tubular products used in oil and
gas drilling, among other applications; -- Universal Compression,
one of the world's largest providers of natural gas compression
equipment and services; -- Statia, a global leader among
independent marine terminal companies; and -- US Synthetic, the
world's largest independent manufacturer of synthetic diamonds used
in oil and gas drill bits. Castle Harlan, founded in 1987, invests
in controlling interests in the buyout and development of
middle-market companies in North America, Europe and, together with
CHAMP Private Equity, Australasia. Since inception, Castle Harlan
has invested in companies representing over $9 billion in
enterprise value. Anchor is Castle Harlan's 49th acquisition.
Castle Harlan's current portfolio companies, which employ more than
42,000 people, include AmeriCast Technologies, a leading designer
and manufacturer of large, complex steel castings used in mining
trucks, locomotives and energy equipment; Ames True Temper, a
leading manufacturer of lawn and garden tools and accessories; and
Baker & Taylor, the leading global distributor of books and
entertainment products to libraries and retailers. DATASOURCE:
Castle Harlan, Inc. CONTACT: Charles Storer for Castle Harlan,
Inc., +1-212-371-2200,
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