PRNewswire-FirstCall/For Immediate Release/Monday, November 25, 2013
Source: The Dillard Anderson Group, Houston, TX
IOS a Calvert Street Capital Partners Portfolio Company, Acquires OTI Operating, Inc.
Max Dillard, Managing Director of The Dillard Anderson Group (“DAG”), announced the sale of OTI Operating, Inc. (“OTI”) of Woodward, Oklahoma, to Inspection Oilfield Services (“IOS”).
OTI serves the active exploration and production companies working in the Woodford, Granite Wash and Mississippian plays. The company provides inspection and cleaning services of oil country tubular goods (“OCTG”) (casing, drill pipe, tubing and collars)
IOS is based in Houston, TX and is one of the largest OCTG inspection and services companies in the United States. IOS operates from 24 locations in all the active shale plays in the lower 48 states. IOS offers a full range of OCTG and drill tool services.
Max Dillard said, “This union creates the perfect opportunity for OTI to partner with a firm that can help fuel continued growth in their existing service areas, and provides IOS a partnership to expand its service offerings in Oklahoma with a well-established and respected team in OTI.”
DAG served as exclusive agent to OTI and its owners, Mr. Steve Randolph and Mr. Rick Wilson. The owners retained a partnership interest in IOS.
The Dillard Anderson Group is an investment banking firm that specializes in mergers and acquisitions in the oilfield services industry. The company was formed in 1996, and is a leading investment firm serving the middle market in oilfield services transactions.