Pouschine Cook Invests in Drilltec Technologies Corporation
New York, NY – March 23, 2012 – Pouschine Cook Capital Management, LLC, a New York City-based private equity firm announced its investment in Houston-based Drilltec, together with its co-investment partners, Lubar & Co., a Milwaukee-based family investment office and members of senior management of the Company.
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 market. Drilltec’s products are used to protect drill pipe, tubing and casing from damage when stored, racked, or transported around the world. The Company services large integrated international oil companies, contract drillers, pipe manufacturers, threaders, and others across its international customer base. Drilltec has earned a #1 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.
“CEO Bryan Baker and his team have built an exceptional business. We are pleased to be working with such an experienced, knowledgeable and talented group of industry professionals,” said Everett Cook, of Pouschine Cook. “Drilltec is well positioned and plans to expand into several new markets to better serve the growing needs of its customers worldwide.”
Baker saw an ideal match between Drilltec and its new investors, with the potential to collaborate on the vision for Drilltec and to continue building on the Company’s success. “Lubar & Co. and Pouschine Cook share our Company’s vision and our desire to continue to invest in and grow Drilltec,” Baker said. “These organizations fit the mold for what we were seeking in an investment firm – extensive industry knowledge and experience; a strong understanding of our strategic business model; a desire for a constructive, long-term relationship; and a successful track record of collaborating to support companies with strong growth prospects.”
The Plastics and Packaging Group at P&M Corporate Finance, led by John Hart, served as exclusive financial advisor to the seller and Drilltec.
About Pouschine Cook Capital Management
Pouschine Cook Capital Management is a New York City-based private equity firm that actively invests in proven, growing lower middle market companies ranging from $20-250 million in revenue. Pouschine Cook’s focus is on founder-owned and family-owned companies and corporate divestitures that have, or are poised to achieve, a leading position in their niche or industry. For more information, visit www.pouschinecook.com.
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 to produce consistent growth and enhanced equity value over the long term. For more information, visit www.lubar.com.
Bonnie Harland, 212-784-0629