OCI Division Acquired by Grand Valley Holdings & Gemspring Capital
OCI Division (“OCI” or the “Company”) has been acquired by Grand Valley Holdings & Gemspring Capital. Baird Business Owner Solutions (“BOS”) served as exclusive financial advisor to the Company.
OCI provides design, manufacturing, and sourcing solutions for complex drilling equipment across the commercial construction and infrastructure markets. The Company offers custom steel casing and other drilling equipment, such as drill string, swivels, hammers and bits, and other ancillary equipment. OCI is headquartered in Brookville, Pennsylvania, with additional third-party vendor locations in Houston, Texas and Lebanon, Pennsylvania.
Through decades of developing extensive in-house design and engineering capabilities, OCI has amassed over 40,000 custom schematics of drilling equipment. OCI uses its extensive product offering and breadth of capabilities to serve leading construction contractors across the United States.
“Over the past 26 years, we’ve built a best-in-class business with customizable, project-critical products,” said Mark Kuenning, Co-Founder of OCI. “Grand Valley and Gemspring bring extensive experience partnering with family-owned businesses and we believe they are the ideal partners to support OCI as we look to expand our footprint and service offerings.”
Lachlan McLean, Managing Partner at Grand Valley Holdings added, “We are delighted to have the opportunity to partner with the founders of OCI to ensure the Company’s continued growth and success. OCI has built a reputation for world-class customer service, with the ability to efficiently manage complex, customized, and time-sensitive projects. We intend to continue that legacy of unsurpassed customer support.”
Grand Valley Holdings is a private investment firm based in Cincinnati, Ohio. Grand Valley Holdings focuses on acquiring founder-owned businesses in Midwest, with a focus on companies in the manufacturing, business services, distribution, logistics, and consumer sectors.
ABOUT BAIRD BUSINESS OWNER SOLUTIONS
Baird’s Business Owner Solutions team advises lower middle-market and emerging growth companies and their owners on business transition, valuation, and M&A transactions.
Leo Whitt, Managing Director
Chris Johnson, Vice President