IDM Acquires Southwest Oilfield Products
IDM Group, Ltd., a Houston-based manufacturer of integrated drilling rigs and drilling rig systems, announced the acquisition of the business and assets of Southwest Oilfield Products, Inc., a designer and manufacturer of fluid end pump products and services for the global oil and gas industry. IDM's acquisition of the assets and business of Southwest, also based in Houston, will allow IDM to further expand its growing suite of products and services. The combination of IDM's and Southwest's North American and global manufacturing facilities and offices will also prove crucial to serving IDM's and Southwest's current and future customers worldwide.
Southwest was founded in 1947 by Arthur Leman, who developed a new process for making pistons for the oil and gas drilling industry. That single product evolved into the most comprehensive fluid end pump parts line available in the industry today. The Fail-Safe Piston, the Dual-Duro Piston, and the two-piece "L" Shape Fluid Ends module for all tri-plex pumps are just a few of the 7,800 products offered by Southwest, including liners, rods, valves, seats and other expendables. Southwest has facilities strategically located throughout North America and satellite offices around the globe to service its ever expanding client needs.
Byron Dunn, CEO of IDM Group, noted, "Southwest has a premier position in the energy industry and, with the vision and leadership of the Leman family, has built a stellar reputation for delivering quality products to onshore and offshore drilling customers. Adding an exceptional line of expendable products such as Southwest's to IDM's rig building business was a key initial part of our growth strategy. We believe the most valuable asset of Southwest is its dedicated, knowledgeable team of employees, and we welcome them to the IDM family."
Lime Rock Partners and 4D Global Energy, two energy-focused private equity firms, provided growth capital to IDM Group to finance the acquisition of Southwest. Parks Paton Hoepfl & Brown advised Southwest Oilfield Products on the transaction and played a central role in the transaction's completion.
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