Houston, TX, 2012-03-16. Hancock Park Associates, a Los Angeles based private equity group with additional offices in Houston, announced the successful sale of Houston-based Drilltec to private equity investors Lubar & Co. and Pouschine Cook Capital Management. Hancock Park acquired Drilltec in May 2007 and facilitated significant growth of the business during its investment period. For the past 30 years Drilltec has been the industry leader in innovating, engineering, and manufacturing critical protection products for the oil country tubular goods market. Drilltec’s products are used to protect drill pipe, tubing, and casing from being damaged when stored, racked, or transported around the world. The Company services large integrated international oil companies, contract drillers, pipe manufacturers, threaders, and others across its international customer base. Drilltec has earned a #1 market share in OCTG thread protectors and packaging systems through successful innovation, expansion of its high-quality product offerings, global customer service, and a clear understanding of industry needs. Financial terms of the transaction were not disclosed.

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.