Sooner To Acquire CTAP
HOUSTON, Feb. 4, 2019 /PRNewswire/ — Sooner Inc. (“Sooner”), a member of Marubeni-Itochu Steel Group, one of the largest suppliers of Oil Country Tubular Goods (“OCTG”) in the U.S, has entered into a purchase agreement to acquire 100% of equity interests in CTAP, LLC (“CTAP”).
CTAP, established in 1986 and headquartered in Lafayette, Colorado, is one of the most respected OCTG suppliers in the US with a strong position in Rockies and Bakken regions. CTAP operates 11 service centers, exclusive of 3rd party locations, that are strategically located across the major oil and gas basins and are supported by a robust transportation and logistics network.
Sooner manages the entire supply-chain of OCTG products and services, from mill-roll to the well-bore. This acquisition further enhances Sooner’s value offerings and complements its strategy to develop innovative and cost-effective solutions to customer needs. The 11 additional service centers will expand Sooner’s reach into the most active oil and gas regions in the US, the largest OCTG market in the world.