EO Advises Laibe Corp (dba Versa-Drill) on its Sale to Charger Investment Partners
EO Advisors, LLC (“EO”) is pleased to announce that it served as exclusive financial advisor to Versa-Drill in its recently completed sale to Charger Investment Partners (“Charger”).
Headquartered in Indianapolis, Indiana, Versa-Drill is a leading designer and manufacturer of highly engineered drilling rigs under the Versa-Drill brand. The Company’s products provide essential drilling solutions to various end markets, including water well, geothermal, and cathodic protection. Versa-Drill is an engineering-driven company that has continuously introduced novel innovations to an already superior rig. The Company’s brand is well-established as being best-in-class, and their products are known to be the premier rigs in the industry.
The acquisition by Charger will allow the company to accelerate its growth strategy, which is driven by strong market tailwinds, including increased investment in water infrastructure and a growing demand for geothermal energy. Supported by Charger, the Company plans to introduce multiple new products while pursuing new growth opportunities. The business will continue to be run by existing management, including Marcus Laibe and Marty Wright.
“We are excited to partner with Charger. Their vision for our business and enthusiasm in working with our team set them apart,” said Marty Wright, President. “We also felt that they understood and appreciated our culture and the importance of our employees.”
Marty also added, “We could not have gotten this done without EO Advisors. They worked relentlessly to get this deal done all while producing a great outcome for all sides involved. Their ability to understand our business and the broader drilling market was incredible.”
“Versa-Drill presented a unique asset in the market given its premium brand and reputation for engineering innovation,” said EO Partner Brian Mihelic. “We believe this transaction represented one of the most significant deals in the drilling industry in recent years and has afforded us a unique perspective on the trends, drivers, and strategies of the various participants within the broader drilling services ecosystem.”
About EO Advisors
EO Advisors is a boutique investment banking firm specializing in mergers and acquisitions, capital raising, and strategic advisory assignments for middle-market and emerging growth companies.
EO Advisors was established in 2021 to deliver the sophistication and perspective of a full-service investment bank to traditionally underserved clients. Our connected and experienced advisors uncover unique business stories, inform strategic direction, and maximize shareholder value by positioning our clients in a creative and defensible manner, making EO Advisors the trusted partner for discerning owners and entrepreneurs. For more information, please visit: www.eoadv.com.