Portfolio W-Technology

Invested: April 2012
Located: Houston, TX
Category: Engineered Products

W-Technology Announces Recapitalization with
Hamilton Robinson Capital Partners

April 19, 2012 – Houston, Texas

W-Technology, Inc. (previously known as Wireline Technologies), a designer and manufacturer of specialty connectors and MWD/LWD components for the oil and gas drilling industry, announced today that it has completed a recapitalization with management and an investor group led by Hamilton Robinson Capital Partners. W-Technology will remain an independent company with very substantial employee ownership.

The predecessor to W-Technology was founded in 1978 and had been family owned. The business has grown substantially through innovative product development and increasing market share. Today W-Technology is considered by the industry to be a supplier of best-in-class components for the directional drilling industry.

"The management team that has been key to W-Technology's success in recent years will stay in place, as will all employees in the United States and Canada. Hamilton Robinson is very excited to work with this outstanding team and pleased to see that members of management will hold a substantial amount of equity in the business. We are planning capacity expansion to allow the company to meet the growing demand of the leading directional drillers and tool manufacturers."

-Scott Oakford, Managing Partner, Hamilton Robinson

Mario Panzar, President and CEO of W-Technology said: “We appreciate the support from our previous owners in allowing us to develop the business and are extremely excited about our ability to serve our customers with the support of our new equity partner, Hamilton Robinson. We are also excited about an official rebranding of the business. We introduced the W-Technology brand to more appropriately align our identity to the products we deliver. The same group of W-Technology employees will continue its commitment to quality, flexibility and responsiveness. Given our strong capital base, management equity ownership and support of an experienced new board, I believe W-Technology’s future is brighter than ever.”