Schramm, Inc. of West Chester recently announced it acquired two Australian firms, strengthening its position as a global supplier to the hydraulic drilling industry.
Together with the private equity firm GenNx360 Capital Partners, Schramm, Inc. purchased the sister companies Air Drill Hammers and Bits Pty. Ltd. and Air Drill Pty. Ltd., based in Perth Australia.
“This is an exciting opportunity to bring together two companies that complement each other to provide an exceptional platform to meet the growing demands of our customers,” Andrew Gilbert, CEO of Air Drill, said in a news release.
Schramm, Inc. is a century-old manufacturer and global supplier. The firm specializes in mobile drilling rigs for the mining, energy, geothermal and water industries.
In Australia, Air Drill Hammers and Bits manufactures drill hammers and percussion bits used in reverse circulation mineral exploration and mining. It’s technology will complement Schramm’s drill rig product range.
Air Drill Pty. Ltd. has been Schramm’s exclusive distributor of hydraulic top drive drill rigs in Australia. Schramm says its acquisition of both companies demonstrates its commitment to global expansion in mineral exploration, coal seam gas and water well drilling.
Schramm rigs are used in more than 80 countries, and the company says more than 75 percent of company revenues are in export sales and field service support.
Schramm’s partner in this venture, GenNx360 Capital Partners, has offices in New York, Seattle and Boston. The private equity firm, founded in 2006, focuses on varied opportunities including those in oil and gas, global transportation components, agricultural products, industrial machinery and component parts, logistics and aerospace.