Lufkin Industries acquires Nappanee manufacturer
NAPPANEE (Inside INdiana Business) – Texas-based Lufkin Industries has acquired US Rod in Nappanee and Patriot Pump in North Dakota. Financial terms of the deal were not disclosed.
US Rod makes artificial lift products, including sucker rods, rod guides, and sinker bars. Patriot Pump provides rod lift downhole products and services to oil and gas operators in North Dakota, Montana, Colorado, and Kansas.
“These acquisitions strengthen Lufkin’s portfolio of superior products and services and expand our outstanding, highly-experienced teams,” said Saeid Rahimian, chief executive officer of Lufkin. “In partnership with KPS and its substantial capital and resources, we look forward to continuing to grow the Lufkin platform in service of our customers.”
Lufkin says the acquisitions will add to its capabilities to provide fully-integrated rod pumping systems and a comprehensive suite of services.
“The entire US Rod and Patriot Pump teams are thrilled to become a part of Lufkin, a legendary company and brand in our industry,” said Mike Shores, co-founder of US Rod and Patriot Pump. “We believe this is a terrific step for our customers, vendors, and employees, who will benefit from leveraging the experience of our combined team and Lufkin’s brand name and extensive US and international distribution network.”
Lufkin provides rod lift products and services to the oil and gas industry. The company did not specify whether any jobs would be affected by the acquisitions.