OFS Energy Fund News

September 12, 2013

Rotary Drilling Tools Acquires Drill String Services Inc. and Expands Services

HOUSTON (September 12, 2013) - Rotary Drilling Tools USA, LLC (RDT) acquired the machine shop assets and operations of Drill String Services, Inc. (DSSI) through its field service repair facility division, Tubular Repair, LLC, and has announced that with this merger, it will build two new facilities by the end of 2013. 

 
RDT acquired DSSI, a certified full-service pipe inspection company, in July. DSSI has served the oil and gas industry for more than 20 years and specializes in nondestructive testing (NDT) of drill pipe and drilling components and offers machine shop services including bottom hole assembly (BHA) manufacturing and rotary shoulder connection repair using computerized numerical control (CNC) lathe technology.
 
Through the purchase, DSSI’s field service repair facilities in Amelia, LA, Victoria, TX and Williamsport, PA will complement RDT’s current Tubular Repair LLC facilities in Rifle, CO and Evanston, WY. Furthermore, the acquisition will allow RDT to add new Tubular Repair, LLC facilities in Midland, TX and Williston, ND by the end of this year. 
 
OFS Energy Fund purchased the majority of RDT from SERVAgroup in Q4 of 2012 with the intent to grow the business. 
 
For questions regarding Rotary Drilling Tools and its recent acquisition or OFS Energy Fund, please contact Laura Littlejohn at 713-225-0880 or laura@integratepr.com.
 
 
About OFS Energy Fund
Houston-based OFS Energy Fund is one of the few professionally managed private equity firms that specializes in acquiring and recapitalizing lower middle-market energy service companies. OFS seeks to provide capital to business owners including buyouts, recapitalizations and growth equity investments. The Fund supports the development of management, appropriate governance, professionalization of reporting and tracking of operating metrics. Additionally, OFS lends industry relationships, ideas for operational improvement and support in developing strategic growth plans and initiatives.
 
About Rotary Drilling Tools
Based in Beasley, TX, Rotary Drilling Tools USA, LLC manufactures, services and repairs downhole drilling tools and other OCTG products. All manufacturing is conducted at the company’s headquarters in Beasley, while additional service and repair facilities are located in Rifle, Colo.; Evanston, Wyo.; Mexico and Colombia. The management team has more than 150 collective years of experience in the manufacturing of oilfield tubular products. For more information, please visit www.rdt-usa.com.
 

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