Antelope Acquires Advanced Composite
Antelope Oil Tool & Manufacturing Co., LLC (“Antelope”) has acquired Advanced Composite Standoff SRL and Advanced Composite Systems SRL (“Advanced Composites”).
Led by Dave Levie and Richard Baynham, Advanced Composites is a manufacturer and supplier of composite centralizers and other composite products used primarily in downhole oilfield applications. Its revolutionary Multilayer Composite Centralizer technology combines high wear resistance with an extremely low friction factor, addressing centralization and casing-running challenges in technically demanding wellbores. The Multilayer Composite Centralizer product can be installed reliably in the field, allowing Advanced Composites to efficiently service projects in remote locations around the world.
Antelope is a leading manufacturer of oilfield casing and cementing products for offshore and onshore applications globally. Antelope is backed by Intervale Capital (“Intervale”), a private equity firm which invests exclusively in middle-market oilfield manufacturing and service companies and related technologies.
George Ribble, Antelope’s Chief Executive Officer, commented, “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.”
Richard Baynham, previously President of Advanced Composites, will manage Antelope’s Advanced Composite product line going forward. “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.
“The addition of Advanced Composites builds upon Antelope’s ongoing efforts to become the leading cementation hardware solutions provider for operators drilling and completing wells in the toughest environments. Advanced Composites will further enhance Antelope’s strengths in offshore and other highly technical applications. Furthermore, partnering with Advanced Composites expands Antelope’s presence in Europe and the Eastern Hemisphere. We welcome Advanced Composite’s employees to the Antelope team,” added David Nemeskal, Principal at Intervale.
Press Release, July 15, 2014