Rubicon Oilfield International has announced it has acquired Top-Co Holdings Inc., a global leader in the supply of oilfield casing, cementing and completion products. Terms of the transaction were not disclosed.
This transaction further strengthens Rubicon’s robust portfolio of Well Construction solutions, enabling the organisation to offer one of the industry’s leading brands of primary cementing equipment to its customers. Backed by a significant capital commitment from Warburg Pincus, a leading global private equity firm, Rubicon will invest in the accelerated growth of all Top-Co product lines, leveraging Rubicon’s infrastructure to enable the employees of Top-Co to support their customers in North America and around the world even more effectively.
“Rubicon is extremely honoured to add the extraordinary people and highly respected products of Top-Co to our organisation,” said Michael Reeves, President & CEO of Rubicon. “The opportunity to combine the best-in-class engineering, manufacturing and customer service capabilities of Rubicon and Top-Co will immediately enable our global team to offer higher value and more comprehensive downhole solutions to customers as they address the challenges of drilling for oil and gas in increasingly complex environments.”
Founded in 1963, the Top-Co organisation has built a reputation of reliability, integrity and manufacturing of the highest quality; with customers around the world depending on its broadly acclaimed casing, cementing and completions product range. “I am very excited by the opportunities this transaction will create for the employees and customers of Top-Co,” said Phil Vogel, President & CEO of Top-Co. “Rubicon’s extremely strong global presence, commitment to customer service and robust balance sheet will create a platform for even faster growth of Top-Co branded products.”
“Rubicon is committed to growing its world class oilfield products organisation, providing exceptional service and solutions to our customers regardless of location or operating environment,” said John Griggs, Rubicon CFO. “Today’s announcement represents another hugely important step toward this commitment and we are very confident our partnership with the employees of Top-Co will result in significant shared success.”
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