Combination enhances Rubicon’s strategic presence in Argentina, expanding capabilities in well construction and completion solutions
Neuquén, Argentina – February 25th, 2019 – Rubicon Oilfield International (“Rubicon”) today announced it has acquired Alpha Oil Tools S.A. (“Alpha”), a brand-recognized oilfield technology company specializing in the supply of downhole products for Argentina’s unconventional land drilling and completions market. Terms of the transaction were not disclosed.
Established in 2014, Alpha has rapidly built a reputation for delivering high quality drilling and completion products addressing the specific needs of Exploration & Production operators across Argentina and Chile. Since 2017, Alpha has served as the primary representative of Rubicon’s product portfolio in Argentina.
The announced transaction enhances Rubicon’s ability to support customers across Argentina, with an expanded, highly talented team and operational infrastructure located in the heart of Neuquén. Immediately following this transaction, Rubicon will commit further investment to accelerate growth of its Drilling Solution and Completion Solution product lines in the country, enabling the Rubicon-Alpha team to deliver even greater customer value.
“We are pleased to welcome the Alpha team to Rubicon and believe this transaction will significantly enhance our participation in the Argentine market which serves as a key area for our company’s growth. The combination of best-in-class products, passionate people and customer service capabilities from Rubicon and Alpha will immediately enable our teams to offer higher value and more comprehensive solutions to customers”, says Jayme Sperring, President of Western Hemisphere for Rubicon.
“Alpha’s brand strength comes from years of delivering quality solutions to customer identified challenges,” said Martin Perez, Director of Latin America for Rubicon. “Today’s announcement represents another important step in Rubicon’s path to delivering an exceptional customer experience, built on the foundation of value-driven products and a highly passionate team of professionals.”
“The Alpha team has built something truly special and I am very excited by the opportunities this transaction will create for our employees and customers,” said Raul Favre Sr., Owner & CEO of Alpha. “Rubicon’s strong products, commitment to customer service and capital discipline will dramatically accelerate the growth of our business.”
Rubicon Oilfield International Holdings, L.P. designs, manufactures and sells/rents downhole oilfield products in every major market around the globe. Rubicon was formed in 2015 and through the acquisition of leading downhole products businesses such as Tercel Oilfield Products, Top-Co Holdings and Logan International provides a broad suite of technology used throughout an oil and gas well’s lifecycle. Headquartered in Houston, Texas with activity in over 50 countries and over 800 employees globally, Rubicon is fueled by strong commercial, manufacturing and engineering teams working closely together to deliver a world-class customer experience. Rubicon is led by a seasoned team of oilfield service and equipment industry executives, in partnership with Warburg Pincus, and is committed to building a best-in-class global enterprise in the oilfield products and equipment sector. For more information, please visit www.rubicon-oilfield.com.
About Alpha Oil Tools S.A.
Alpha was founded by Mr. Raúl Favre in combination with an ambitious and talented team. In a short period of time Alpha has secured several top-tier customers, building a tradition of providing high quality products combined with unbeatable customer service. With over 40 years industry experience, Mr. Raúl Favre led several highly successful businesses prior to Alpha, including AOS which he founded in the 1990´s and built into a market leading completion products supplier before the company was acquired by a global oilfield services organization.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $44 billion in private equity assets under management. The firm’s active portfolio of more than 140 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested more than $60 billion in over 780 companies in more than 40 countries. For more than two decades, Warburg Pincus has invested or committed over $13 billion across more than 75 energy investments around the world with a focus on upstream, midstream and downstream oil and gas; energy services and technology; power generation and transmission; alternative energy and renewables; and mining and metals. Notable investments include Antero Resources (NYSE: AR), Bill Barrett Corporation (NYSE: BBG), Broad Oak Energy, Encore Acquisition Company, Kosmos Energy (NYSE: KOS), Laredo Petroleum (NYSE: LPI), MEG Energy (TSX: MEG), Newfield Exploration (NYSE: NFX), Spinnaker Exploration and Targa Resources (NYSE: TRGP, NGLS).
The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com.
Michael Reeves / Jayme Sperring
Mary Armstrong / Christopher Beattie