Superior, headquartered in Houston, Texas, manufactures, distributes and services surface wellhead equipment. Superior was founded in 1996 by Mark Vickers and Tony McClinton in a barn in Odessa, Texas. Since then, the company has opened four additional locations in Texas, including Decatur, Tyler, Houston and Corpus Christi, and one location in Norman, Oklahoma to become one of the largest regional wellhead suppliers in Texas. Superior's customers include independent oil and gas companies and drilling contractors working under turnkey contracts in the United States.
Charles Cherington, Managing Partner of Cherington Capital, commented that "Superior's reputation for service, responsiveness and fair pricing have built an excellent foundation for future growth. We seek to build on that leadership position through continued internal growth and selective acquisitions."
As part of the transaction, Alan Senn was hired as CEO, and Jim Klima as CFO. Both Alan and Jim are industry veterans, with proven track records. Alan and Jim will become significant stakeholders in the business along with the original owners, who will continue as investors and senior managers. Tony McClinton commented, "our management team now has the depth and experience to move Superior into new markets. Alan will ensure that our customers continue to enjoy excellent service."
Cherington Capital LLC is a private investment firm that sponsors leveraged buyouts and recapitalizations of middle market companies. Cherington targets companies with leading market positions and strong management teams.
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