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Chiron Financial Backs Cobra Downhole Motor in Asset Sale to Norse Partners

August 03, 2018, 07:15 AM
Filed Under: Automotive

Chiron Financial, LLC served as the exclusive investment banker to Cobra Downhole Motors, Inc., a subsidiary of Genco Energy Services, in the sale of substantially all of its assets to Norse Partners LLC. The $18.8 million sale transaction, which included the asset purchase and assumption and restructuring of debt, closed in July 2018.

Founded in 2010, Cobra designs, engineers and manufactures fit-for-purpose drilling, completion and production motors. Cobra serves domestic customers under a traditional rental model and international customers under a direct sales model with a focus on South America. In addition to selling motors and parts, the Company provides downhole motor application training, shop set-up, equipment sourcing and motor maintenance training. Cobra has offices in Houston and Midland, Texas.

Norse Partners LLC is a private equity firm which develops successful businesses in the oil and gas industry. The firm's partners are based in Houston, London and Oslo and bring extensive U.S. and international experience in private and public equity, business development, corporate advisory, investment banking, brokerage and corporate restructurings.


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