Windsor, CO, September 28, 2018 --(PR.com
)-- Citadel Advisory Group is pleased to announce the acquisition of HP Piping Solutions LLC (HPPS) by Henderson Drilling Products (Henderson). Citadel acted as exclusive transaction advisor to HPPS.
HPPS is a Houston-based manufacturer of pressure piping, vessels, and other specialized oilfield equipment. HPPS was founded in 2008 by oilfield veterans George Cress and Billy Rogers and has become the "first call" for major oil and gas customers worldwide. Billy Rogers commented, "Citadel's team patiently guided us to streamline operations, obtain growth capital, acquire a complimentary manufacturing company, source and analyze several acquisition offers, and ultimately finalize the transaction with Henderson."
Henderson is a Houston-based manufacturer of drilling products and equipment for the oil and gas industry. Founded in 2006 by Dan Henderson, the company has evolved over the past 12 years to become a globally recognized brand synonymous with quality, service, and integrity.
Citadel Advisory Group, LLC, as exclusive transaction advisor to HP Piping Solutions, provided growth consultation, market evaluation, confidential buyer search and evaluation, and skilled transaction advice from deal structure through the due diligence process. "Citadel was honored to have worked with Billy and George in assisting them in their journey of continued growth and eventual exit. It’s this type of positive outcome and lasting relationship that keep us coming back to work everyday," said Chris Frevert, Citadel’s Founder and Managing Director.
Citadel Advisory Group is a trusted and respected Merger & Acquisition firm focused on energy service companies and related manufacturing and transportation businesses. Our team of transaction, financial, and legal specialists provides investment banking services to privately-held and public companies throughout the oil patch. We remain involved every step of the way - from sourcing, through due diligence, to post-close consultation.