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Tulsa-based Equipment distributor acquired by management, equity firm

January 23, 2014

By Rod Walton, Tulsa World, Okla.

Jan. 23 -- Tulsa -based Thorco Holdings LLC announced Thursday it has been acquired by a group including company management and a private equity firm, The new ownership group is Y-T Holdco LLC , a holding company formed with Thorco management, PCP Management Co. and Imperial Private Equity. Thorco is a distributor of pressure control devices, liquid level gauges, analyzers and control valves used in the energy, paper and pharmaceutical industries. "Our management team is excited about our partnership with the new ownership of the two companies, and we expect to realize significant synergies from the common platform shared by Thorco and Young Oil Tools," Thorco CEO William Teale said in a release. "We'll have a strong presence throughout Oklahoma as well as our network of facilities and associates across the country." Teale also was named president of Young Oil Tools, a Cushing -based company which designs, makes and sells check valves and repair sleeves used in the oil and gas industry. Y-T Holdco acquired Young Oil Tools in 2013's third quarter. Thorco was founded in 1929. In addition to Tulsa operations, Thorco has facilties in Borger, Texas ; Santa Fe Springs and Bakersfield in California . Centerfield Capital Partners and Cole Taylor Bank helped finance the acquisitions. The company did not release details on how much the acquisitions cost. ___ (c)2014 Tulsa World (Tulsa, Okla.) Visit Tulsa World (Tulsa, Okla.) at Distributed by MCT Information Services

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Source: Tulsa World (OK)

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