FMI Advises DRILLTOOLS in Sale to OCI
FMI Capital Advisors is pleased to announce the sale of DRILLTOOLS, LLC to OCI, LLC, a portfolio company of Grand Valley Holdings and Gemspring Capital, and a manufacturer of custom-built foundation drilling components for the infrastructure and construction end markets. FMI Capital Advisors served as the exclusive sell-side financial advisor for the transaction.
Based in Kilgore, Texas, DRILLTOOLS is an industry-leading domestic manufacturer of rotary drilling tools and excavation products. Since its founding in 2010, the company has established itself as a trusted partner to many large infrastructure, utility and commercial contractors. DRILLTOOLS offers an extensive range of drilling products and leverages flexible, agile manufacturing processes to meet a wide variety of unique production requirements.
"Over the past 15 years, we've built a best-in-class business with a differentiated suite of customizable, mission critical products, all domestically manufactured and sourced," said Bo Steding, Co-founder of DRILLTOOLS. "In OCI, we found a partner with a complementary product line and a shared vision for how to best serve the industry. We are excited about the prospects for joint growth in the years to come alongside OCI."
Steding adds, “The expertise and guidance from FMI were instrumental in the successful sale of our company. Their deep industry knowledge, coupled with their strategic approach, helped us navigate the complexities of the process with confidence. They presented us with multiple options for our exit strategy, and ultimately OCI was a perfect fit. We couldn't have asked for a better partner during such a pivotal time.”
DRILLTOOLS will continue to serve customers primarily out of its Texas headquarters.
About DRILLTOOLS:
DRILLTOOLS is the leading domestic manufacturer of quality drilling & excavating products, utilizing the finest materials and high production standards. Founded in 2010, the company is headquartered in Kilgore, TX. For more information, visit www.drilltoolsinc.com.
About OCI:
OCI is a market leader in supplying a wide range of equipment to geotechnical service companies and drilling contractors including micropile casing, drill string, hammers and bits, augers, core barrels, swivels, and other customized products. Founded in 1998, the company is headquartered in Brookville, PA. For more information, visit www.ocidivision.com.
About FMI Capital Advisors:
FMI Capital Advisors has fully dedicated and deeply experienced investment banking teams advising clients on merger and acquisition (M&A) transactions across the built environment. We maximize value for our clients through our deep market knowledge, strong technical expertise and an unparalleled network of industry relationships. For more information, visit fmicapitaladvisors.com.
FMI Capital Advisors Contact:
Ryan Foley
Managing Director
[email protected]