PE Deals

Argonaut buys drilling tools manufacturer Center Rock

Center Rock is also the Eastern U.S. and Canadian distributor for Hütte Drilling Equipment.

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  • Based in Tulsa, Oklahoma, Argonaut invests in the manufacturing and industrial sectors
  • Argonaut has deployed more than $2 billion in capital
  • Argonaut was founded in 2002

Argonaut Private Equity has acquired Berlin, Pennsylvania-based Center Rock, a provider of drilling tools and rigs serving the construction, mining, utility, and energy industries. No financial terms were disclosed.

“Argonaut is very excited to partner with an exceptional and proven management team who is going to lead this company’s growth to the next level,” said Steve Mitchell, Argonaut CEO and managing director, in a statement.

Center Rock is also the Eastern U.S. and Canadian distributor for Hütte Drilling Equipment.

Based in Tulsa, Oklahoma, Argonaut invests in the manufacturing and industrial sectors. Argonaut has deployed more than $2 billion in capital. The firm was founded in 2002.