Business Summary:
The Company designs and manufactures down hole oil tools used in down hole completion work in oil and gas wells. The Company’s product lines consist of drillable plugs/retainers (61% of sales), retrievable plugs (26%), test valves (3%), setting/retrieving tools (2%), composite tools (1%), and miscellaneous (7%). The recurring customer base consists of independent service companies (70% of sales) and resellers (30%).
- Rapid sales growth (19.6% compounded annually from 2004 – 2008) and strong profitability (EBITDA has averaged 29.4% of sales)
- Superior name and reputation – The Company enjoys a long-standing (10+ years) reputation for excellent capabilities and superior customer service
- 95% repeat business generated from strong, stable customer base
- Experienced management and staff available to remain with new ownership
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