Rubicon Oilfield buys Top -Co Holdings
Rubicon Oilfield International has acquired Top-Co Holdings, a supplier of oilfield casing, cementing and completion products. Terms of the transaction were not disclosed reports WorldOil
This transaction further strengthens Rubicon’s portfolio of Well Construction solutions, enabling the organization to offer one of the industry’s leading brands of primary cementing equipment to its customers. Backed by a significant capital commitment from Warburg Pincus, a private equity firm, Rubicon will invest in the accelerated growth of all Top-Co product lines, leveraging Rubicon’s infrastructure to enable the employees of Top-Co to support their customers in North America and around the world even more effectively.
“Rubicon is extremely honored to add the extraordinary people and highly respected products of Top-Co to our organization,” said Michael Reeves, president and CEO of Rubicon. “The opportunity to combine the best-in-class engineering, manufacturing and customer service capabilities of Rubicon and Top-Co will immediately enable our global team to offer higher value and more comprehensive downhole solutions to customers as they address the challenges of drilling for oil and gas in increasingly complex environments.”
“I am very excited by the opportunities this transaction will create for the employees and customers of Top-Co,” said Phil Vogel, president and CEO of Top-Co. “Rubicon’s extremely strong global presence, commitment to customer service and robust balance sheet will create a platform for even faster growth of Top-Co branded products.”
“Rubicon is committed to growing its world class oilfield products organization, providing exceptional service and solutions to our customers regardless of location or operating environment,” said John Griggs, Rubicon CFO. “Today’s announcement represents another hugely important step toward this commitment, and we are very confident our partnership with the employees of Top-Co will result in significant shared success.”