Axon Energy Products closes two acquisitions, establishes Pressure Products Group

Axon Energy Products have closed two acquisitions in the Houston area in recent weeks. With Church Energy Services, Axon has added a product line in blowout preventers which complements the product lines of Drilling Controls Inc., resulting in the formation of Axon Pressure Products Inc. (APP). The acquisition of the assets of the pump manufacturer Demay International adds both a new product line and a modern facility well suited for manufacturing oilfield equipment.

Church Energy Services

Church Energy Services, previously management owned, is a manufacturer of oilfield pressure control and flow control equipment:

Pressure Control Products

Church designs and manufactures a broad range of blowout preventers (BOPs) both for drilling and well workover operations.

Flow Control Products

The flow control product line includes gate and check valves for drilling applications such as choke and kill manifolds, chokes, flow control devices for drilling and production applications, and various types of valves for drilling, well completion and production applications.

The management owners, Dan Church (Managing Director) and Rick Church (Vice President, Engineering), both bring extensive industry experience and expertise to Axon and will take on key management positions in Axon’s Pressure Products Group. Management retains a significant ownership share of the combined business.

Axon Chief Executive Officer, Gary Stratulate, stated “CES is a sound strategic fit with the pressure control products platform that Axon is building through APP.  Together CES and DCI will produce a complete line of drilling and production pressure control products.  The combined company engineers, manufactures, remanufactures and provides blowout preventers (BOP’s), BOP control systems, choke and kill products, high pressure valves, diverter controls and deepwater multiplex controls for on and offshore applications.”

Axon Chairman of the Board, Danny McNease, added “We are pleased to include CES in the
Axon family and we look forward to continuing a long standing relationship with CES.”

  

Assets of Demay International

Demay International is a manufacturer of a premier multi purpose pump used for well service applications. The company went into Chapter 11 in 2009, and Axon was able to acquire the assets through a structured process governed by a US bankruptcy court.  In addition to the pump product line, the acquisition provides Axon with a modern purpose-built manufacturing facility suitable for many of the products already manufactured or planned within Axon’s Pressure Products Group.

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