REICHdrill Inc., one of the oldest names in the drilling industry that is located in Philipsburg, Pa., has retained Equity Partners Inc., an investment-banking firm headquartered in Wye Mills, Md., to find a joint venture partner, merger candidate or buyer for the company. REICHdrill Inc. manufactures and markets a complete line of surface drilling equipment for use in the water well, oil and gas exploration construction and mining industries.
REICHdrill had revenues of $13.4 million in 2000, up from $12.4 million in 1999 and $8.9 million in 1998.
According to Drew Drebitko, president of REICHdrill, "The company's growth, combined with some poor internal financial reporting have created some financial strain for the company. This has led us to retain Equity Partners Inc. to help us strengthen the company's financial position."
For further information, contact Ken Mann at Equity Partners Inc. at 410-822-0216 or send an e-mail to him at firstname.lastname@example.org.