Company
Crystal Ridge Partners Leads the Recapitalization of Bronco Manufacturing
Princeton, NJ – January 4, 2007...Crystal Ridge Partners (CRP) is pleased to announce that it has led the recapitalization of Bronco Manufacturing, Inc. (Bronco), a Tulsa, Oklahoma based manufacturer of replacement parts for drilling, workover, and well servicing rigs. CRP partnered with the Company’s founders, Max Mantooth and Bruce Ricks, to recapitalize the Company and provide capital for growth and add-on acquisitions.
Founded in 1980, Bronco is a leading manufacturer of replacement parts for drilling, workover, and well servicing rigs. The Company manufactures and supplies approximately 80,000 replacement parts which are sold to over 250 customers located throughout the world. The Company’s customers are composed of private and nationally owned drilling companies, repair centers, drilling contractors, and supply stores located primarily outside the United States.
Jack Baron, Managing Partner of CRP, commented that “Bronco offered an opportunity to partner with proven managers/owners and invest in a rapidly growing business in an attractive industry. CRP was attracted by Bronco’s technology base, asset light business model, strength of management, and the growth prospects of the business.”
Max Mantooth, CEO of Bronco, commented that, “We are exited to partner with CRP who has extensive experience in successfully building aftermarket businesses. CRP’s expertise and resources will help us achieve our strategic plan of continuing to grow organically as well as through acquisition.”
Bronco will continue to seek add-on acquisitions and investment opportunities in companies that manufacture complementary products and offer access to new customers and markets.
About Bronco Manufacturing
Bronco Manufacturing is a leading manufacturer of replacement parts for drilling, workover, and well servicing rigs. The Company manufactures and supplies approximately 80,000 replacement parts and supports a wide range of rig OEMs. The Company specializes in products located in the drawworks, mud pumps, and rotary tables. The Company’s diverse product line is sold to over 250 customers located primarily in international markets. For more information, visit our website at www.broncomfg.com.
About Crystal Ridge Partners
Crystal
Ridge Partners (CRP) of Princeton, New Jersey, is an investor in
lower-middle-market companies in the eastern half of the United
States. Since its launch in 2005, CRP has focused on management
buyouts and recapitalizations and has invested in six companies to
date. Prior to founding CRP, the firm’s four investment
professionals successfully completed over 60 private equity
transactions.
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