Industrial Growth Partners has successfully sold Redco to Dril-Quip, enhancing its market position within the pressure control solutions industry.

Information on the Target

Redco Group, also known as Great North, is a prominent player in the Canadian pressure control solutions industry, headquartered in Edmonton, Alberta. The company provides a comprehensive range of wellhead and proprietary completion products, along with essential services tailored for high-profile energy clients. Under the management of Industrial Growth Partners (IGP), Redco has evolved to enhance its product offerings and market presence significantly.

Since the recapitalization led by IGP in December 2018, Redco has implemented a strategic plan focused on establishing itself as a leading provider of pressure control solutions in the region. The company has made crucial investments in capital assets, workforce, and product development, while also completing an add-on acquisition in 2021, resulting in notable market share growth in both the Canadian and U.S. markets over the past five years.

Industry Overview in Canada

The pressure control solutions market in Canada is robust, driven by a growing demand for energy and natural resources. The sector supports various industries, including oil and gas, mining, and utilities, necessitating