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OZARK MUD & CHEMICAL, INC. |
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Ozark
Mud & Chemical, Inc., Van Buren, Arkansas, was founded in 1987.
The Company provides drilling fluids and rental services to the active
exploration and production companies in the Arkoma Basin of eastern Oklahoma
and western Arkansas. The owner
and president of Ozark, Mr. Terry Davis, is a mud service industry veteran,
and had developed "the" independent mud service company for the
Basin. DAG
was referred to Mr. Davis by a previous client.
Having recently executed another transaction in the Arkoma, we were
familiar with the level of drilling activity and the promise of the developing
Fayetteville Shale play. After
talking to a number of previous DAG clients, Mr. Davis elected to engage us
for the sale of the Company. DAG
performed an analysis of active strategic and private equity buyers.
With input from Mr. Davis, we narrowed the list and confidentially
approached each prospect. After
discussion and meetings with several interested parties, Anchor Drilling
Fluids USA, Inc. emerged as the successful acquirer.
Anchor is the largest privately owned drilling fluids company in the
U.S., and now operates out of four major regions.
DAG delivered a premium valuation (which was not publicly disclosed). Also, Mr. Davis has agreed to be a regional manager for Anchor, and to assist the Company in its continuing exciting growth. |
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