Charger Investment Partners has acquired Versa-Drill, enhancing its growth potential in the drilling industry amid favorable market dynamics.

Target Company Overview

EO Advisors, LLC (“EO”) is pleased to announce its role as the exclusive financial advisor to Versa-Drill during its recent sale to Charger Investment Partners (“Charger”). Based in Indianapolis, Indiana, Versa-Drill is a prominent designer and manufacturer of highly engineered drilling rigs, recognized for its innovative solutions in the drilling industry. The company’s offerings cater to diverse markets, including water well, geothermal, and cathodic protection services. Known for its engineering excellence, Versa-Drill has established its brand as a leader in the sector, consistently delivering superior rigs recognized as the industry’s finest.

The recent acquisition by Charger is set to enhance Versa-Drill's growth trajectory, propelled by favorable market conditions. These include strong investments in water infrastructure and a rising demand for geothermal energy solutions. Under Charger’s ownership, Versa-Drill anticipates launching several new products and exploring additional avenues for growth, all while continuing to be managed by its existing leadership team, including Marcus Laibe and Marty Wright.

Industry Overview in the United States

The drilling industry in the United States has witnessed remarkable growth in recent years, driven by increasing investments in energy efficiency and infrastructure development. This growth has been particularly noticeable in the geothermal ene