NATCO Group Inc. Acquires Connor Sales, Inc.admin
NATCO Group Inc. announced that, effective August 31, 2008, its subsidiary acquired Connor Sales Company, Inc., a provider of oil field equipment and services to customers in the Williston Basin and Bakken Oil Shale of North Dakota, for approximately $37 million in cash consideration, subject to certain adjustments.
Chairman and Chief Executive Officer of NATCO, John U. Clarke, said, “Connor and its founders have been good customers of NATCO for many years. The acquisition provides NATCO with an opportunity to expand our presence in the growing Bakken oil shale play. Connor complements our current sales and services operations in Williston, N. D. and will give us the added capabilities to manufacture, package and service equipment locally.”
NATCO Group Inc. is a leading provider of wellhead process equipment, systems and services used in the production of oil and gas. NATCO has designed, manufactured and marketed production equipment and services for over 80 years. NATCO production equipment is used onshore and offshore in most major oil and gas producing regions of the world.
Connor was founded in 1964 and manufactures tanks and other oil field parts, packages equipment, including tanks, treaters and separators and provides aftermarket parts sales and services.