Trinity Valley Welding and Machine, Inc. (“TVI”), in Liberty, Texas, was formed by Mr. Pete Willoughby and Mr. Greg Forticq in 1992.
The Company services the oilfield through refurbishing the primary components of drilling rigs – drawworks, mud pumps, rotary tables and hook/blocks. TVI also maintains a fleet of service trucks which it dispatches to the field for on-site repairs. Its customer base includes the major U.S. based drilling contractors.
The owners of TVI contacted DAG and discussed the possibility of a sale. DAG was retained, and scrutinized our potential acquirers. TVI was then sold to Tri-Point Energy Services, Inc. at an attractive valuation.
Tri-Point Energy is a focused group of service companies headed by Mr. Stuart Tillman. It continues to pursue complementary add-on acquisitions.
Mr. Willoughby continues to serve as President of both TVI and Tri-Point Energy.