News from the Field
Summit Casing Equipment Acquires Gryphon Casing Solutions
August 19, 2021 (Fort Worth, TX) – Summit Casing Equipment (Summit), a manufacturer of cementation products for the oil and gas industry, announced today it has acquired Gryphon Casing Solutions, LLC (Gryphon) a division of Gryphon Oilfield Solutions in an asset purchase. The acquisition is part of Summit’s strategy to grow market share in the cementation products segment in the oil and gas industry.
Founded in 2005 in Elk City, Oklahoma and currently located in Fort Worth, TX, Summit designs and manufactures cementation products servicing oil and gas operations in the United States (focused on lower 48) and throughout the world.
Andy Eldridge, President of Summit Casing Equipment commented, “It is exciting to increase our footprint in the US market. The acquisition will expand our customer base and strengthen Summit’s position in US land based well construction. In addition, our product offering will also expand with the addition of Gryphon’s SUREstart Toe Sleeve. We welcome the Gryphon employees to becoming part of the Summit team providing technical solutions and best in class service to operators in the industry.”
About Gryphon Casing Solutions
Gryphon Casing Solutions designs and delivers premium casing handling solutions in markets across the US and Latin America. Headquartered in Houston, TX, Gryphon has been providing innovative solutions to our clients’ casing handling needs since 2017, including the Blue Cap wet shoe system, Minotaur 10K float equipment, and the Integrated Shoe Track (IST).
About Summit Casing Equipment
Summit Casing Equipment (www.summitcasing.com) is based in Fort Worth, TX, with locations throughout the United States. The company manufactures a branded line of solid body centralizers, bow spring centralizers, composite centralizers, single piece centralizers, float equipment, stage tools, flotation subs and reamer shoes. Summit provides exceptional customer service throughout North America and international markets. The wide product offering and national reach allows Summit to quickly supply its customers to meet operational needs.
Renovo Capital, LLC (www.renovocapital.com) is a Dallas‐based private equity fund that partners with business owners, entrepreneurs and management teams to invest in specialty manufacturing and business service companies. Renovo’s principals and network of operating professionals have decades of experience providing operational and strategic leadership to drive long term business value creation. Renovo Capital has offices in Dallas and Denver.
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