Argonaut Private Equity announced on May 9 it has acquired Center Rock Inc., a Pennsylvania-based provider of drilling tools and rigs for the construction, mining, utility and energy industries. (Source: Shutterstock.com)
Argonaut Private Equity announced on May 9 it has acquired Center Rock Inc., a Pennsylvania-based provider of drilling tools and rigs for the construction, mining, utility and energy industries.
Center Rock’s leadership team will remain and be supported by Argonaut.
The deal allows Center Rock to expand its product offerings to new industries and countries. The company currently designs, manufactures, distributes and services downhole rock drilling tools and construction applications, including waterwell and geothermal borehole drilling, blastholes for mining and quarry, utility infrastructure projects and underbalanced natural gas drilling.
Argonaut is a private equity firm based in Tulsa, Oklahoma, with more than $2 billion in direct investments across the manufacturing and industrial industries.
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