Published: July 14, 2022 |

[Click image to enlarge]

Varel Energy Solutions (VES) has acquired Sledgehammer Oil Tools, an international leader in the supply of oilfield casing, cementing and completion products.

This transaction further strengthens VES’s robust portfolio of casing and cementing products, fueled by the legacy brand of downhole products, enabling the organization to offer one of the industry’s leading sources of high-quality, low-cost primary cementing equipment to its customers.

Backed by growth capital and poised to build a strong foundation for value-driven manufacturing solutions, VES will leverage its global manufacturing infrastructure combined with Sledgehammer’s supply chain efficiency to deliver value and improved economics around the world even more effectively.

“Varel Energy Solutions is extremely honored to add the extraordinary people and impressive value-driven culture of Sledgehammer to our organization,” said Derek Nixon, president and CEO of VES.

“We exist to become the industry’s maker of consumable downhole products across the traditional oil and gas and renewable energy sector. While we are committed to serving our customer base, we aim to offer the broader energy service market within improved buying economics, including our historic competitors,” added Nixon.

The acquisition of Sledgehammer incorporates best-in-class engineering, manufacturing, and testing capabilities centered in Northern India, and combined with VES, now positions nearly one million square feet of roofline designed to produce products addressing the challenges of drilling and completions in increasingly complex and cost-sensitive environments.

Founded in 1974, the Sledgehammer organization has built a reputation of high-value products with unrivaled supply chain and manufacturing capabilities; with customers around the world depending on its broadly acclaimed casing, cementing and completions product range.

“I am very excited by the opportunities this transaction will create for the employees and customers of Sledgehammer. Varel’s extremely strong global presence, commitment to customer service and robust balance sheet will create a platform for even faster growth of our products and people,” said Pradeep Mohanty, managing director and founder of Sledgehammer.

“For this area of business, we are committed to being the economic leader in downhole cementing equipment to the industry, period,” said Jordan Stringer, VES’s EVP of Eastern Hemisphere Operations.

“Today’s announcement represents another hugely important step toward this commitment and we are very confident our partnership with the employees of Sledgehammer will result in significant shared success,” added Stringer.

About Varel Energy Solutions
Founded in 1947, Varel Energy Services is one of the world’s largest independent manufacturers and suppliers of downhole drilling and completions products to the energy sector. Headquartered in Kingwood, Texas, VES services oil & gas, renewable energy, and industrial markets with its comprehensive suite of roller cone and fixed cutter drill bits, as well as a complete portfolio of primary cementing equipment. The company employs more than a 1,000 people and has manufacturing facilities in Matamoros, Mexico and Dammam, Saudi Arabia as well as sales offices throughout the world. VES’s proprietary design capabilities, efficient manufacturing, and global sales force uniquely position the company to provide high-quality downhole solutions delivering reliable performance and a superior customer experience.

To stop by Varel’s website, CLICK HERE

Be in-the-know when you’re on-the-go!

CLICK HERE to register your email address.

Copyright © 2022 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

For licensing permission, .(JavaScript must be enabled to view this email address)