Chiron Financial served as the exclusive investment banker to Cobra Downhole Motors, a subsidiary of Genco Energy Services, in the sale of substantially all of its assets to Norse Partners.
The $18.8 million sale transaction, which included the asset purchase and assumption and restructuring of debt, closed in July 2018.
Founded in 2010, with shops in Houston and Midland, TX, Cobra designs, engineers and manufactures fit-for-purpose drilling, completion and production motors. It serves domestic customers under a traditional rental model and international customers under a direct sales model with a focus on South America. The company also provides downhole motor application training, shop set-up, equipment sourcing and motor maintenance training.
Norse Partners is a private equity firm which develops successful businesses in the oil and gas industry. The firm’s partners are based in Houston, London and Oslo and have experience in private and public equity, business development, corporate advisory, investment banking, brokerage and corporate restructurings.
Chiron is an investment banking firm that arranges private placements of debt and equity capital, as well as mergers, acquisitions and sales for middle market companies. It raises growth capital and restructuring capital, and assists with refinancings, financial restructurings, and other special situations. Clients include companies in oilfield services, energy, agriculture, healthcare, retail and manufacturing.
