Boyne Capital has acquired Houma, Louisiana-based A.S.A.P. Industries Manufacturing Inc, a maker of flow control products and provider of BOP repair and recertification services primarily for the North American oil and gas industry. No financial terms were disclosed.
MIAMI–(BUSINESS WIRE)–Boyne Capital (“Boyne”) is pleased to announce that it has partnered with management to acquire A.S.A.P. Industries Manufacturing, Inc. (“ASAP” or the “Company”), a leading manufacturer of high-pressure flow control products and provider of BOP repair and recertification services primarily to the North American oil and gas industry.
Headquartered in Houma, Louisiana, ASAP is an API certified manufacturer of a variety of flow control products used in drilling, completion, and production equipment. Products include drilling and adapter spools, sand separators, and frac heads. ASAP specializes in large equipment with internal diameters up to 30” and pressure ratings up to 20,000 PSI, which is beyond the range of most competitors. The Company is further differentiated by its ability to provide delivery with minimal lead times due to its extensive on-hand raw material inventory. For additional information, please visit www.asapind.net.
Boyne Managing Partner and CEO, Derek McDowell, said, “ASAP is a world class machining operation with a long track record of successfully supplying mission critical components to the oil and gas production market. We are honored to be partnering with Timmy Deroche, ASAP’s CEO, Randy Price, COO, and their long-tenured management team to grow the Company by expanding its already substantial manufacturing capabilities.”
Timmy Deroche, ASAP’s Founder and CEO, said, “the Boyne team has been excellent to work with through this process, and we’re excited to have such supportive partners. ASAP has immense opportunity in front of it, and we’re eager to support the needs of a recovering and resurgent oil and gas industry.”
The ASAP transaction represents the most recent platform investment in BCM Fund I (“Fund”). Boyne Capital is dedicated to investing in the lower middle market sector, specifically companies with revenues of less than $100 million and with EBITDA of $2 million to $10 million.
About Boyne: Boyne Capital is a Florida-based private equity firm focused on investments in lower middle market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, consumer products, manufacturing, and business & financial services. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive company performance and growth. Boyne specializes in providing the capital necessary to fund corporate growth and facilitate owners and shareholders’ partial or full exit. For additional information, please visit www.boynecapital.com.