Latest Flatland Forge News
Dec 15, 2017
December 15, 2017 Share OSF-backed VanZandt Controls buys Flatland Forge's machining assets VanZandt Controls LLC, a portfolio company of OFS Energy Fund, has acquired Flatland Forge's machining assets. No financial terms were disclosed. said: VanZandt Controls LLC, a portfolio company of OFS Energy Fund, has acquired Flatland Forge‘s machining assets. No financial terms were disclosed. PRESS RELEASE ODESSA, Texas, Dec. 15, 2017 /PRNewswire/ — VanZandt Controls, LLC (“VanZandt” or the “Company”), an OFS Energy Fund (“OFS”) portfolio company, has acquired the machining assets of Flatland Forge, Inc. (“Flatland”). The acquisition represents a vertical integration of VanZandt’s supply chain, allowing VanZandt to internally machine key components utilized in the packaging of automated valves. With its new machining capabilities, VanZandt will have greater control of the quality and delivery time of its products to better support its customers. “We are thrilled to acquire these premier machining assets and have the exceptional machinists of Flatland join our team. By bringing machining capabilities in-house, we can more quickly and reliably supply products to our customers,” said Larry Richards, VanZandt’s President and CEO. Since its founding in January 2015, VanZandt has quickly grown into one of the top providers of automated valves in west Texas. It serves blue chip upstream, midstream, and downstream customers active in the construction of energy-related infrastructure throughout the Permian Basin. VanZandt was acquired by OFS in partnership with Larry Richards, former CEO of Hy-Bon Engineering, in mid-2017. In acquiring VanZandt, OFS and Richards planned to utilize the Company as a platform to create a market-leading provider of premier automated valve, flow measurement, and instrumentation components. Since the acquisition, VanZandt has added regional distribution centers in Hobbs, New Mexico and Canyon, Texas. “The VanZandt team has done a great job executing on the operating plan we underwrote to at the time of our initial investment in the Company. The fast-paced growth at VanZandt has been truly exciting to see,” said Jerad McMayon, Partner at OFS. About VanZandt VanZandt Controls, LLC specializes in valve automation, flow measurement, instrumentation, and process controls. The Company is headquartered in Odessa, Texas. For more information, please visit www.vanzandtcontrols.com. About OFS OFS Energy Fund is a Houston-based private equity firm specializing in acquisitions and recapitalizations of middle-market companies in the energy industry with enterprise values between $5 million and $100 million. For more information, please visit www.ofsfund.com.