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[ more ]Company History
Anchor has been a recognizable name in the drilling fluids industry since the 1970's. The company grew during the 1980's and 1990's from strategic acquisitions and mergers of several independent drilling fluids businesses. Anchor's Rocky Mountain operations were conducted as Unibar Energy Services until acquired by Norway's Anchor Drilling Fluids in 1991. During that same period, the Mid-Continent, Permian Basin, and South Texas regions were operated as Jordan Drilling Fluids.
In 1996, when M-I Drilling Fluids divested Anchor's U.S. assets during its purchase of Norway's Transocean ASA Anchor worldwide operations, Anchor's U.S. operations and Jordan were merged to form Anchor Drilling Fluids USA, Inc.
In July 2005, Bob and Phil West, with the support of American Capital Strategies Ltd., acquired Anchor for the purpose of assembling the best management and operational team in the industry and providing both customers and employees an independent and superior alternative. Subsequently, the company experienced substantial organic growth due to the experience and skill at all levels of the organization and our efforts to continue to reinvest and further develop our resources to better serve our customers.
In that same light, Anchor has also grown through several strategic acquisitions. In 2006, Anchor purchased both Ozark Mud & Chemical Inc., a provider of drilling fluid services and equipment rentals in the Fayetteville Shale, and Toby's Vacuum Truck Service Inc., a fluid-handling business servicing the Piceance Basin.
LogoIn April 2008, Castle Harlan Partners IV, L.P., a private equity limited partnership organized and managed by Castle Harlan, Inc., a leading New York-based private equity investment firm, acquired Anchor from American Capital. Castle Harlan has owned a number of companies in the energy industry over the years, including:
- RathGibson, a leading manufacturer of highly engineered premium stainless steel and alloy welded tubular products used in oil and gas drilling, among other applications;
- Universal Compression, one of the world's largest providers of natural gas compression equipment and services;
- Statia, a global leader among independent marine terminal companies; and
- US Synthetic, the world's largest independent manufacturer of synthetic diamonds used in oil and gas drill bits.
Castle Harlan, founded in 1987, invests in controlling interests in the buyout and development of middle-market companies in North America, Europe and, together with CHAMP Private Equity, Australasia. Since inception, Castle Harlan has invested in companies representing over $9 billion in enterprise value. Anchor is Castle Harlan's 49th acquisition.
Castle Harlan's current portfolio companies, which employ more than 42,000 people, include AmeriCast Technologies, a leading designer and manufacturer of large, complex steel castings used in mining trucks, locomotives and energy equipment; Ames True Temper, a leading manufacturer of lawn and garden tools and accessories; and Baker & Taylor, the leading global distributor of books and entertainment products to libraries and retailers.
To learn more about Castle Harlan, their professionals, and their investment portfolio, please visit www.castleharlan.com.