Hampco Acquires Houston-Based ODS International
Hampco has acquired ODS International Inc. of Houston in a deal worth $3.2 million. Andy Grieve, Chairman of the Hampco group of companies stated "Our decision to acquire ODS continues our expansion drive into owning products and becoming a supplier of complete rig packages. ODS have over the last six years supplied a range of innovative rig mechanization and mechanical handling solutions and we are extremely pleased with the acquisition"
The acquisition gives Hampco additional bases in US and Brazil.
Richard Hancock, Chief Executive of ODS added "This is a major step forward for us, allowing us to benefit from Hampco's long history and presence in UK, Singapore, Australia and Nigeria. Combining our resources will allow us to become involved with significantly larger projects"
Mr. Hancock will remain as Chief Executive of ODS and will also take up the role of CEO in the parent company.
Hampco was formed in 1988 as consulting engineers to the drilling industry by the late, well known and highly respected, Gene Hampton and was purchased by Andy Grieve in 1997. The company has since been a supplier of a wide range of drilling systems solutions and services.