Intervale Acquires Milam Tool and K&M Machine Works

Intervale Acquires Milam Tool and K&M Machine Works

milam turbulator nfIntervale Capital has acquired Milam Tool Company, a manufacturer of products used in oil and gas applications. In conjunction with the Milam transaction, Intervale also acquired K&M Machine Works, a manufacturer of casing accessories. The assets of both Milam and K&M will be held under a newly-formed holding company called Benchmark Completions LLC.

Milam Tool Company is a manufacturer of solid-body centralizers, stabilizers, and stop collars. The company was founded in 1985 and is headquartered in Oklahoma City, OK ( K&M Machine Works is a manufacturer of casing accessories including threaded couplings, joints, crossovers, stop collars and sub-assemblies. The company is based in Spring, TX ( Milam and K&M both participate in the approximately $1.5 billion casing and cementation hardware market, which has grown at a 12% compounded annual growth rate since 2005, according to Spears & Associates.

Clayton Plucheck has been named President and Chief Executive Officer of Benchmark. Mr. Plucheck joins Benchmark after a career in casing hardware, having previously served as R&D Manager in Weatherford International’s casing hardware division. He also co-founded Ferro-Tube Oil Tools and Liner Shoes, two businesses in the casing and cementation hardware segment.

“I’m thrilled to partner with Milam, K&M and Intervale Capital to build a best-in-class casing hardware and accessories company,” said Mr. Plucheck. “Benchmark is committed to delivering to the market cutting-edge casing hardware products. We will build on Milam and K&M’s track records of superior quality, customer service and on-time delivery.”

Intervale Capital invests exclusively in middle-market oilfield services and manufacturing companies and related technologies. The firm has more than $650 million under management and is currently investing from its second fund. Intervale was founded in 2006 and is headquartered in Cambridge, MA with an additional office in Houston, TX (

“We are excited to partner with Clayton to accelerate Milam and K&M’s growth. Milam’s solid-body centralizers allow Benchmark to participate in the rapidly growing horizontal centralization market in the U.S. K&M expands Benchmark’s manufacturing capacity, particularly for customers’ threaded coupling requirements in demanding onshore and offshore applications,” said Tuan Tran, a Vice President at Intervale.

© 2013 PEPD • Private Equity’s Leading News Magazine • 7-8-13

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