Advance Manufacturing Technology, Inc. (AMT) is a manufacturer of oil service equipment. The Company was founded by David and Bob Tadlock in the mid 80’s, primarily to service Tadlock Pipe and Rental, Inc. AMT gradually developed its own proprietary product line including wireline blowout, preventers, wireline lubricators and grease injection units. Customers include both service providers and rental tool companies.
The Dillard Anderson Group (DAG) was referred to Bob and David Tadlock by a previous client. DAG met with the Tadlocks in 2002, and, based on market conditions, advised the owners to delay any sale efforts until the oilfield service market improved. In late 2004, as the market improved, DAG was engaged as the exclusive advisor for a sale of AMT.
DAG identified a member of private equity and strategic candidates which would have an interest in AMT. Of a number on interested firms, Forum Oilfield Technologies, Inc., a platform company of SCF Partners, Inc., emerged as the acquiring company. The purchase price (which was not publicly disclosed) was comprised of cash and stock. Mr. Brian Leeth, general manager of AMT, agreed to continue managing AMT for Forum. The Tadlocks achieved their goal of liquidity, and, they are pleased to be shareholders in Forum Oilfield Technologies.