Antelope Oil acquires CTE Industries

Antelope Oil Tool & Manufacturing Co., LLC has acquired CTE Industries LTD.

Headquartered in Edmonton, AB, CTE was founded in 2006, and is an independent manufacturer and supplier of oilfield cementation equipment. Its products include float shoes, float collars, cement plugs and centralizers for the global oil and gas industry. CTE also provides premium threading services and supplies steel products, such as mechanical tubing and coupling stock.

Antelope is a leading manufacturer of oilfield casing and cementing products for offshore and onshore applications globally. Antelope is backed by Intervale Capital, a private equity firm which invests exclusively in oilfield manufacturing and service companies.

George Ribble, Antelope’s Chief Executive Officer, said:“We have been impressed with CTE’s rapidly growing market presence. CTE has established a strong brand globally, best known for its first-class products and reliable service. Following this combination, Antelope will be able to better service our customers by offering a broader product suite.”

Dan Laplante, previously President of CTE, will manage Antelope and CTE’s combined operations in Canada. “Partnering with Antelope is a great outcome for CTE and its employees. We are proud to be a part of the Antelope team and look forward to working with George and his management team,” said Dan Laplante.

“CTE’s brand and products are perfectly complementary to the Antelope platform. CTE presents an exceptional opportunity for Antelope to extend its geographic presence into Canada and expand its customer base. Our highly-qualified engineering team will be able to leverage CTE’s existing product portfolio to develop new, innovative casing hardware and cementing solutions,” added David Nemeskal, Principal at Intervale.

Press Release, April 3, 2014

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