Daily News: August 17, 2012

Blackhawk Specialty Tools Gets New Revolver From Regions

Blackhawk Specialty Tools said it has entered into a multi-year loan agreement with Regions Bank to provide a $30 million revolving credit facility.

Billy Brown, Blackhawk’s president & CEO, commented, “We are excited about our new relationship with Regions Bank. This new credit facility will add to our strong foundation and allow us to continue to rapidly grow our business and meet the needs of our customers around the world. Our cementing technology has been widely accepted and we continue to engineer and invest in new technology and products that we believe will benefit our customers and drive our growth for years to come. I’d also like to thank our previous lenders who played a vital role in allowing Blackhawk to get to where we are today.”

Houston, TX-based Blackhawk Specialty Tools is a provider of premium automated top drive cement heads and related equipment and services as well as cementation products to the oil and gas industry.