26 Jan Centek Group Joins Madison Industries
Madison Industries has today partnered with the Centek Group. Centek Group will join its Madison Energy vertical.
Founded in 2001, Centek Group specializes in the development of engineering solutions for the world’s toughest casing running environments.
Centek’s focus has always been to reduce risk and rig time. Designing and manufacturing a range of revolutionary bow spring centralizers which provide unprecedented stand-off: giving optimum pipe centralization, aiding pipe rotation and easing the string to total depth without issue.
Whatever the casing running challenge, Centek has the product to meet it. Excellence to the Core is their mantra, which has made Centek the benchmark for centralization products.
Terms of the transaction were not disclosed. EY acted as exclusive Financial Adviser to the shareholders of Centek Group on the sale of the business. CMS provided legal advice.
“We have been through an extensive process to select the right partner for our business who can support our future growth over the long term,” said Tony Cutmore, Chairman of Centek Group. “I believe we have found a great fit with Madison Industries. They buy and keep their businesses forever, encouraging the management team to continue to run the company. Our locations, the management team and our staff will remain unchanged and we will continue to focus on producing the highest quality products for our customers and delivering outstanding customer service.”
“We are delighted that such a market leading company is joining the Madison family,” said David Coghlan of Madison Industries. “We look forward to working with Tony Cutmore and the Centek team.”