Milwaukee-based investment firm Lubar & Co. has backed Houston-based Drilltec with an undisclosed amount of capital. Drilltec is a maker of protection products for the oil country tubular goods market. No terms of the investment were disclosed.
Lubar & Co. announced today that it has invested in Houston-based Drilltec. For the past 30 years, Drilltec has been the industry leader in innovating, engineering and manufacturing critical protection products for the oil country tubular goods (OCTG) market. Drilltec’s products are used to protect drill pipe, tubing and casing from being damaged when being stored, racked or transported around the world. Customers include large integrated international oil companies, contract drillers, pipe manufacturers, threaders and others.
“We are pleased to be working with CEO Bryan Baker and the team at Drilltec. They are exceptionally experienced, knowledgeable and talented,” said Sheldon Lubar. “Drilltec is well positioned and is currently expanding into several new markets to better serve the needs of oil and gas multinationals worldwide.”
Drilltec has earned a number-one market share in OCTG thread protectors and packaging systems through successful innovation, expansion of its high-quality product offerings, global customer service and a clear understanding of industry needs.
Drilltec’s products are currently manufactured in the United States, Europe, Argentina, Japan, Southeast Asia and Mexico. New manufacturing expansions include Saudi Arabia and Brazil. The management team’s global strategy is to locate international facilities close to customers, while expanding its product line to offer the highest industry performance at competitive pricing.
Baker and Lubar saw an ideal match between the two companies, with the potential to collaborate on the vision for Drilltec and continue building on the company’s success. Baker was particularly attracted to Lubar’s 40 years of experience in the energy sector.
“Lubar & Co. shares our company’s vision and our desire to continue to invest in and grow Drilltec,” Baker said. “Lubar & Co. fit the mold for what we were seeking in an investment firm – a strong understanding of our strategic business model and short- and long-term goals, a desire for a long-term relationship, and a successful track record of collaborating to support thriving companies.”
About Lubar & Co.
For more than 40 years, Milwaukee-based private investment firm Lubar & Co. has applied a unique blend of patient capital, collaborative vision and steadfast commitment to management teams to build thriving companies and strong communities. By doing the right things, day-in and day-out, Lubar & Co. nurtures market-leading companies that produce consistent growth and enhanced equity value over the long term.