Strategic Advisors is pleased to announce the sale of Cellar Tech, LLC to National Oilwell Varco, Inc. (NYSE: NOV). Strategic Advisors served as the exclusive sell-side advisor to the members of Cellar Tech.
Cellar Tech is a leading manufacturer of drilling equipment and accessories that offers an energy developer a simple and cost-effective means to improve worker safety, environmental standards, and operational performance. The Company’s below-grade production technique creates a significant value proposition for its clients. The Company is headquartered in Murrysville, PA, and markets its products throughout North America.
Cellar Tech will operate within NOV’s Wellbore Technologies business segment. NOV is headquartered in Houston, TX and is a leading provider of technology, equipment, and services to the global oil and gas industry. NOV supports customers’ full-field drilling, completion, and production needs in over 65 countries throughout the world. Since 1862, NOV has pioneered innovations that improve the cost-effectiveness, efficiency, safety, and environmental impact of oil and gas operations.
Strategic Advisors, Inc. is an investment banking firm located in Canonsburg, Pennsylvania, that has provided its clients merger and acquisition, corporate finance advisory, and strategic consulting services since 2002.