Condor Engineering & Mfg. LLC has been acquired by National OilWell Varco, Inc.
The founder of Condor Engineering & Manufacturing, LLC (Condor), based in Denver, CO, has sold the company to National OilWell Varco, Inc. (NOV). Financial details have not been disclosed.
Condor is a private oil field equipment design and manufacturing company making patented hydraulic fracturing blender pumps. The company’s superior closed-tub design allows for very large efficiency gains in frac blending operations while offering significant environmental advantages.
NOV is a global giant in the oil field equipment and component manufacturing and distribution sector. The company provides equipment and components for oil and gas drilling and production. oilfield services and supply chain integration services to the upstream oil and gas industry worldwide.
Condor's founder and majority shareholder, along with his financial partners, were seeking an exit of their ownership interests for diversification. They were also seeking a transaction that allowed for their technology to continue to win market share and move towards becoming a market-leading industry standard. Additionally, under the terms of the transaction, he will remain in the company.
Oaklins' team in Dallas advised the seller in this transaction. A highly selective acquiror pool was identified as being uniquely advantaged strategically to value and promote Condor’s technology. Our team kept the deal progressing even as the final acquiror underwent a large reorganization and corporate spin-off.
Talk to the deal team
Bryan Livingston
Oaklins Capital Alliance
Related deals
Top Systems teams up with Holland Capital to create the premier Dutch battery-based solutions provider
Holland Capital, a Netherlands-based private equity firm, has acquired a stake in Top Systems, a leading provider of complete battery-based power solutions, with a unique value-added services proposition.
Learn moreXeros Technology Group has completed a placing, subscription and retail offer
Xeros Technology Group plc has raised funds to drive forward its commercialization strategy.
Learn moreSuccesful integrated solution for strategic deadlock and tender offer by CMB on Euronav
Compagnie Maritime Belge (CMB) has successfully resolved the strategic and structural deadlock within Euronav through an agreement with Frontline, a world leader in the international seaborne transportation of crude oil and refined products, resulting in a mandatory takeover offer on Euronav.
Learn more