Hancock Park Sells Drilltec to New Private Equity Owners
Drilltec’s products are currently manufactured in the United States, Europe, Argentina, Japan, Southeast Asia, and Mexico. New manufacturing expansions include Saudi Arabia and Brazil. The management team’s global strategy is to locate international facilities close to customers while expanding its product line to offer the highest industry performance at competitive pricing.
"Hancock Park was an excellent partner for Drilltec and we enjoyed growing the business with them over the last several years," said Bryan Baker, CEO of Drilltec. Ken Watler, of Hancock Park, said “We have enjoyed our ownership of Drilltec and are proud of the Company’s success under Bryan’s leadership. We wish the best for Drilltec going forward.”
Baker saw an ideal match between Drilltec and its new investors, with the potential to collaborate on the vision for Drilltec and continue building on the company’s success. "Lubar & Co. and Pouschine Cook share our company’s vision and our desire to continue to invest in and grow Drilltec," Baker said. "These organizations fit the mold for what we were seeking in an investment firm – extensive industry knowledge and experience; a strong understanding of our strategic business model and short- and long-term goals; a desire for a constructive long-term relationship; and a successful track record of collaborating to support rapidly growing companies."
The Plastics and Packaging Group at P&M Corporate Finance, led by John Hart, served as exclusive financial advisor to Hancock Park and Drilltec.
Hancock Park Associates is a Los Angeles-based private equity investment firm founded in 1986. Since its inception, the firm has maintained a focus on investing in small to mid-size companies that are typically below the sight-line of larger financial investors.
For more than 40 years, Milwaukee-based private investment firm Lubar & Co. has applied a unique blend of patient capital, collaborative vision and steadfast commitment to management teams to build thriving companies and strong communities. By doing the right things, day-in and day-out, Lubar & Co. nurtures marketleading companies that produce consistent growth and enhanced equity value over the long term.
About Pouschine Cook Capital Management
Pouschine Cook Capital Management, LLC is a New York City-based private equity firm that actively invests in proven lower to middle-market companies ranging from $20-250 million in revenue. Pouschine Cook’s focus is on founder- and family-owned companies and corporate divestitures that have - or are poised to achieve - a leading position in their niche or industry.