The Ellis Williams Company, Inc. (EWCO), Houston, Texas, is a manufacturer of premium reciprocating mud pumps, which are used in oilfield drilling and workover operations. The founder, Mr. Ellis Williams, is a pioneer in mud pump design and manufacture. EWCO was owned by Michael and Shirley Williams, and Bob and Ken Gibbs. The owners engaged DAG to find a buyer with two objectives in mind – shareholder liquidity and the ability to expand the EWCO pump line. After an extensive search, DAG negotiated the sale of EWCO to Rowan Companies, Inc. (NYSE:RDC) subsidiary LeTourneau, Inc. EWCO was sold at an attractive multiple which was well received by each shareholder. Management stayed in place through a transition period.
The Company has been renamed LEWCO and has greatly expanded in its operations under the Rowan/LeTourneau ownership. Mr. Ellis Williams still serves as a consultant to LEWCO and realized one of his career dreams when the first EWCO 3,000 horsepower pump was completed in early 2002.