Antelope Oil Tool & Manufacturing Co. LLC acquired Advanced Composite Standoff SRL and Advanced Composite Systems SRL (Advanced Composites), the company said July 15.
Advanced Composites provides products used in downhole oilfield applications, and is based in Ravenna, Italy. Antelope provides oilfield casing and cement products.
Intervale Capital, a Boston-based private-equity firm, backed Antelope, the company said.
Richard Baynham, who previously was president of Advanced Composites, will manage Antelope’s line of its products, the company said.
“We are extremely pleased to partner with Antelope. Antelope’s management team has made a concerted effort to foster a customer-first corporate culture. We look forward to continuing to serve our customers and contributing to Antelope’s growth,” said Baynham.
“Our partnership with Advanced Composites will further strengthen Antelope’s reputation as a solutions provider in technically challenging environments. We have been truly impressed with Rick, Dave and the rest of the Advanced Composites team,” said George Ribble, Antelope’s CEO.
Antelope Oil Tool & Manufacturing Co. LLC is based in Mineral Wells, Texas.
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