FORT WORTH, TX / ACCESSWIRE / October 6, 2023 / Summit Casing Equipment (Summit), a manufacturer of cementation products for the oil and gas industry, announced today that it has acquired Scepter Supply, LLC (Scepter). The acquisition is part of Summit's continued strategy to grow its 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. Cable Protection For Umbilicals
Andy Eldridge, President of Summit Casing Equipment commented, "We are thrilled about the combination with Scepter. The acquisition will expand our customer base and strengthen Summit's position in the US land based well construction market. In addition, the combined product offering will expand what Scepter's customers can purchase as well as add Scepter's high impact composite centralizer. We welcome the Scepter employees in becoming part of the Summit team and continuing to provide technical solutions and best in class service to operators in the industry."
Chet Halvorson, President and Founder of Scepter Supply, stated, "We are all excited with this new step for Scepter, and expect to increase our product offering and service levels with the addition of the Summit group to our current team. Having Summit's US-based manufacturing behind us will be a huge step forward for us, and for our customers. We have always strived to provide our customers with premium equipment, now having Summit behind us will only raise the level of quality that our customers have come to rely on and expect from Scepter."
Scepter Supply was founded in 2010 in Rock Springs, WY. Today the business is headquartered in Cheyenne, WY with additional locations in Midland, TX and Marietta, OH. Scepter distributes multiple lines of casing accessories, including their own brand of float equipment and centralizers as well as an ultra-low friction high impact composite centralizer. Scepter has always been focused on providing unbeatable service to their customers, in addition to quality equipment.
Summit Casing Equipment (www.summitcasing.com) is based in Fort Worth, TX, with locations throughout the United States to support its customer's oil and gas drilling operations. The company manufactures a branded line of solid body centralizers, bow spring centralizers, composite centralizers, single piece centralizers, float equipment, stage tools, floatation subs and reamer shoes. Summit provides exceptional customer service throughout the North American and international oil and gas markets. The wide product offering and national reach allows Summit to quickly supply its customers to their meet operational needs.
Renovo Capital, LLC (renovocapital.com) is a Dallas, TX-based lower middle market private equity firm comprised of seasoned operating and investing professionals. Renovo makes control investments in technical product and service businesses that have the potential to generate meaningful value through operational improvements and strategic initiatives. Since its founding in 2009, Renovo has completed over 36 transactions and raised over $400M of committed capital.
Summit Casing Equipment Andy Eldridge (817) 529-2400 sales@summitcasing.com
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