Houston, Texas Private Equity Firm

Dan-loc
Dan-Loc Bolt & Gasket was a manufacturer of metal fasteners and gaskets for use in a variety of environments from upstream oil and gas exploration and production through downstream refining and petrochemical applications. The company was a leading U.S. manufacturer of branded stud bolts and ring joint gaskets used primarily in high stress environments due to pressure, temperature or corrosion. Freestone exited this business in 2007.

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Freestone Partners announced the sale of the majority of its ownership interest in Dan-Loc Bolt & Gasket, a Houston-based manufacturer and distributor of high-strength stud bolts and ring joint gaskets used by the oil and gas, refining and chemical industries. The company’s assets were acquired by an investment group led by Laud, Collier & Company, a private equity group based in Chatham, New Jersey. Terms of the sale were not disclosed. Freestone and its co-investors will continue to own approximately 16% of the company. Jim Briggs, a principal with Freestone Partners, commented, “Dan-Loc was an outstanding investment for our limited partners. With Freestone’s disciplined process, we were able to work through some rough patches during the early part of the five years that we owned the company. Under the capable leadership of CEO Tom Connolly, the company is operating extremely well. We wish the company continued success, and extend our thanks to Dan-Loc’s skilled and dedicated employees.”