Investment Summary

American Securities Exits Ulterra Drilling Technologies

On October 23, 2018, private equity firm The Blackstone Group invested in energy services and equipment company Ulterra Drilling Technologies from American Securities

Investment Highlights
  • This is The Blackstone Group’s 7th transaction in the Energy Services and Equipment sector.
  • This is The Blackstone Group’s 154th transaction in the United States.
  • This is The Blackstone Group’s 27th transaction in Texas.
Investment Fate
  • Ulterra Drilling Technologies was sold to a publicly-traded strategic buyer in 2023 for 370M USD.

Investment Summary

Date 2018-10-23
Target Ulterra Drilling Technologies
Sector Energy Services and Equipment
Investor(s) The Blackstone Group
Sellers(s) American Securities
Deal Type Secondary Buyout
Advisor(s) Wells Fargo Securities (Financial)
Weil Gotshal & Manges (Legal)

Target

Ulterra Drilling Technologies

Fort Worth, Texas, United States
Ulterra Drilling Technologies is a supplier of polycrystalline diamond compact drill bits to the oil and gas industry. Ulterra’s singular focus on PDC drilling technology allows it to deliver the highest level of customer service and customization to producers across a wide range of basins and geological formations, driving industry leading performance and durability. Ulterra Drilling Technologies was formed in 1927 and is based in Fort Worth, Texas.

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Investor(S) 1

Investor

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 247 of 363
Sector: Energy Services and Equipment M&A 7 of 9
Type: Secondary Buyout M&A Deals 48 of 90
State: Texas M&A 27 of 37
Country: United States M&A 154 of 230
Year: 2018 M&A 13 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-15 NEC Group

Birmingham, United Kingdom

NEC Group is a live entertainment business operating exhibitions, conferences, music, sports, family entertainment and hospitality. NEC Group was founded in 1976 and is based in Birmingham, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-15 Ixom

Victoria, Australia

Ixom is a global chemicals business focused on providing water treatment and chemical distribution services in Australia and New Zealand, with a growing presence in North and South America and Asia.

Sell AU$777M

Seller(S) 1

SELLER

American Securities

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 23.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Securities is a large private equity firm that typically partners with management when pursuing company acquisitions. American Securities typically targets US-based with $50 to $200 million of EBITDA and valued up to $2 billion. Areas of interest include consumer products, restaurants, healthcare, industrial, aerospace, defense, agriculture, environmental, paper/packaging, energy, and specialty chemicals. The Firm was originally formed in 1947 as the family office for William Rosenwald, an heir to the Sears Roebuck & Company, and began accepting outside investors in 1994. American Securities is headquartered in New York, New York.


DEAL STATS #
Overall 40 of 53
Sector: Energy Services and Equipment M&A 2 of 2
Type: Secondary Buyout M&A Deals 14 of 21
State: Texas M&A 4 of 6
Country: United States M&A 39 of 52
Year: 2018 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-28 Alkegen

Buffalo, New York, United States

Alkegen develops and manufactures high-performance specialty materials used in advanced applications including high-temperature industrial insulation, filtration media, battery technologies for electric vehicles and energy storage, and fire protection, among many others. Alkegen was founded in 1891 and is based in Buffalo, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-16 CPM

Blaine, Minnesota, United States

CPM designs, engineers, and manufactures a broad variety of branded pellet mills, oilseed processing equipment, twin screw extruders, and industrial-scale thermal processing equipment. The Company serves a global base of over 5,000 customers annually from facilities in Europe, Asia, Latin America, and North America. It produces premier process equipment and engineered systems that provide customers with a superior level of operating efficiency, durability, and reliability, maximizing process performance and machine uptime. CPM was founded in 1883 and is based in Blaine, Minnesota.

Buy -