NEWS
TP Holdings
announces the merger of Radoil, Inc. ("Radoil"), a Houston,
Texas-based manufacturer of offshore drilling and production
equipment, including umbilical reels, hot stabs, deepwater pipe
laying towers and other highly engineered deepwater solutions.
Some notable Radoil projects are J-Lay Pipeline
Laying Towers,
Drilling Riser Centralizers, and Arctic Drilling Platforms.
Radoil is an
engineering-driven business recognized for its strong
technological capabilities and high quality solutions for
challenges of operating in deepwater environments.
Radoil is an ISO 9001:2008 facility offering a combination
of full manufacturing and project engineering.
Radoil, Inc. of Houston,
Texas will be a sister corporation to Tulsa
Power, Inc. of Tulsa, Oklahoma and Reel-O-Matic, Inc. of Oklahoma
City, Oklahoma. The
company will maintain manufacturing facilities in
Houston,
Tx.
All key personnel will
remain the same at each location, with Benton Baugh as President
of Radoil, Terry Simmons as President of Reel-O-Matic and Mike
Spence as CEO & President of TP Holdings.
“The combined companies provide a broad range of energy (oil and
gas) and non-energy (wire, cable hose, and pipe) products which
will provide a natural synergy to broaden the base and strengthen
the position of each of the companies”, said Mike Spence, CEO of
TP Holdings "We are excited by the new opportunities this creates
for our customers ".
Benton Baugh, President of Radoil, Inc., added “With over 100
years of combined experience and personnel on staff holding more
than 100 US patents, the group is anticipated to provide a new
generation of high quality and innovative products to service our
customer base.”
The acquisition comes on the heels of the TP Holdings merger of
Tulsa Power, Inc. and Reel-O-Matic, Inc.
For the energy industry,
Tulsa Power, Inc. currently offers umbilical reels, drill line
spoolers, wireline/slickline units, deep well reels, fluid
transfer reels and specialty spooling solutions for land and
offshore drilling contractors, shipbuilders, and oilfield service
contractors.
For non-energy industries, the companies manufacturer crane
re-reevers, shafted and shaftless take-up and payout machinery,
high speed spoolers, coiling equipment, caterpullers and
specialize in the design and development of customized equipment
for manufacturers and distributors of wire and cable, wire rope,
pipe, hose and tubing, for the telecommunications, utilities,
mining, and defense related industries.
