News

Packard International Acquires Omsco´s “Kelly Valve” line

Both companies manufacture drilling components and accessories for the oil and gas drilling industry worldwide.

Packard International has purchased all assets of OMSCO´s kelly valve product line, a mainstay of the oil and gas industry since 1947.  Kelly valves are used in oil and gas drilling operations to control pressure surges or “kick,” as well as the flow of drilling fluids (mud).  Packard International, headquartered in Conroe, Tx., produces its own line of valves for oil field use, and company executives believe the addition of the reputable OMSCO valve will enhance Packard´s customer offerings.

“Like OMSCO, we live and breathe quality, customer service, and superior products,” said Tony Deeb, President of Packard International,  “We expect a seamless transfer of the kelly valve into Packard´s production.”

Packard International exceeds all industry standards for production of top-quality drill string products. The company is authorized to monogram under the conditions of API Spec 7 and certified to API Q1 & ISO 9001-2000.  The company, established in 1975, was twice recognized as one of Houston´s Top  100 private companies making the greatest impact on Houston (1999 & 2001).

OMSCO, also headquartered in Houston, is a division of ShawCor, Ltd.,  a global energy services company based in Toronto, Canada.  ShawCor  provides  technology-based products and services for pipeline exploration and production.  The company has  manufacturing and service facilities located in more than 15 countries serving the needs of petrochemical industries worldwide.

Statesman served as an advisor to Packard International, Inc. on this transaction and assisted in the placement of the required financing.

Bike Barn enters the fast lane

It is Houston´s leading retail bike dealer and one of the leading dealers nationwide for Trek, Specialized and Klein bikes.  “This is an exceptionally well run business with tremendous upside potential.  It was a fun deal to work on with good people on both sides of the table.  We were pleased we were able to help in realizing the Barnes´ objectives on the sale and fully expect the new owners to continue the growth of the business”, said Will Jaco, a Managing Partner in Statesman´s Merger & Acquisition practice.