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  • Houston
    +1 713-929-9080
  • Paris
    +33 1 82 88 48 32

Case Studies

Cobra Downhole Motors

Energy

Shutterstock 391944076


SIT­U­A­TION

  • Cobra Down­hole Motors, Inc. (the ​“Com­pa­ny”) was found­ed in 2010 with shops in Hous­ton and Mid­land, Texas
  • The Com­pa­ny designs, engi­neers and man­u­fac­tures fit-for-pur­pose drilling, com­ple­tion and pro­duc­tion motors
  • The Com­pa­ny serves domes­tic cus­tomers under a tra­di­tion­al rental mod­el and inter­na­tion­al cus­tomers under a direct sales mod­el with a focus on South America
  • Cobra also pro­vides down­hole motor appli­ca­tion train­ing, shop set-up, equip­ment sourc­ing and motor main­te­nance training

OUT­COME

  • Chi­ron served as the exclu­sive invest­ment banker to Cobra Down­hole Motors, a sub­sidiary of Gen­co Ener­gy Ser­vices, in the sale of sub­stan­tial­ly all of its assets to Norse Part­ners, LLC, a pri­vate equi­ty firm based in Hous­ton, Texas
  • 80% of the Com­pa­ny was acquired through an $18.8 MM LBO in July 2018, which includ­ed the asset pur­chase and assump­tion and restruc­tur­ing of debt
  • The trans­ac­tion val­ues the com­pa­ny at $23.5 MM
Cobra downhole motors

The Challenge

The Company designs, engineers and manufactures fit-for-purpose drilling, completion, and production motors.

The Chiron Solution

Chiron served as the exclusive investment banker to Cobra Downhole Motors, a subsidiary of Genco Energy Services, in the sale of substantially all of its assets to Norse Partners, LLC, a private equity firm based in Houston, Texas.

The Result

80% of the Company was acquired through an $18.8 MM LBO in July 2018, which included the asset purchase and assumption and restructuring of debt.

Is your com­pa­ny per­form­ing like it should?

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