Posted 04/13/2023
Argonaut Acquires Center Rock
TULSA, OK, April 13, 2023
--Argonaut Private Equity, a Tulsa, OK-based private equity fund, has announced the acquisition of Center Rock Inc., a Berlin, PA-based provider of drilling tools and rigs serving the construction, mining, utility, and energy industries.
The private equity group’s low-leverage approach reinforces the partnership’s potential to build on Center Rock’s foundation as a premier manufacturer of tools that drill through overburden and bedrock.
“Argonaut is very excited to partner with an exceptional and proven management team who is going to lead this company’s growth to the next level,” said Steve Mitchell, Argonaut CEO & Managing Director.
As is common with Argonaut partnerships, the Center Rock leadership team will remain in place – supported by Argonaut to expand its market-leading equipment into new industries and countries. “Challenge us!” said Dave Pietrzykowski, Center Rock President & CEO. “We thrive on challenges. You’d be surprised how rapidly we can respond when it comes to designing, manufacturing, and delivering quality down-the-hole hammers, bits, and other specialty drilling products.”
Partnering with Argonaut will give Center Rock opportunities to further expand its product offerings into other industries and parts of the world, Pietrzykowski said. For customers, he said, that means two things:
- Existing customers can remain confident in Center Rock’s rock-solid product offerings and high level of customer service.
- New customers can engage Center Rock to develop innovative solutions to “make rock disappear.”
Center Rock designs, manufactures, distributes and services a best-in-class line of downhole rock drilling tools and accessories. Its market-leading products increase efficiency and production for a variety of construction applications, waterwell and geothermal borehole drilling, blastholes for mining & quarry, utility infrastructure projects, and underbalanced natural gas drilling. That includes down-the-hole (DTH) hammers and bits from 3.5” – 48” (89-1219mm) diameter, as well as casing advancing overburden drilling systems. Center Rock is the leading global manufacturer/supplier of canister drills. The CRI LP Drill may be used in many drilling applications including construction, mining, utility, and horizontal-directional drilling. Coupled with outstanding service, Center Rock is a one-stop rock drilling shop capable of supplying the tools for any rock drilling requirement.
Center Rock is also the Eastern U.S. and Canadian distributor for Hütte Drilling Equipment, hydraulic drilling rigs for micropiles and ground anchors for the enhancement of existing foundations, construction of new foundations, ground stabilization, and soil investigation.
About Center Rock
Center Rock Inc. provides innovative drilling solutions used in a broad range of applications across the globe. The company’s air-driven tools and products are designed, engineered and developed from two state-of-the-art manufacturing facilities in Berlin, PA. Center Rock creates custom tools to address complex applications and to meet customer specifications for its geotechnical and exploration drilling partners.
About Argonaut Private Equity
Founded in 2002, Argonaut Private Equity is a Tulsa, OK-based private equity firm with more than $2 billion of capital deployed in direct investments across the manufacturing and industrials sectors. Argonaut partners with companies to develop a strategy for accelerating growth and enhancing operations.
Posted 06/09/2025
Tulsa-Based Power Distribution Solutions Provider Announces Bold New Brand
Tulsa, Okla. (June 9, 2025) – Today, premier power distributions solutions provider Layco Electric Innovations announced a corporate rebrand to Ame...
Posted 08/27/2024
Argonaut Announces New Partnership With St. Louis-based Hammer & Steel®
TULSA, Okla.- Argonaut Private Equity has added Hammer & Steel Global, LLC to its growing Fund V portfolio. The partnership is the latest example o...
Posted 07/31/2024
Argonaut Private Equity Partners with Layco Electric Innovations
TULSA, Oklahoma – Argonaut Private Equity, a private equity firm focused on investing in Middle America, has announced a partnership with Layco El...
Posted 06/03/2024
Argonaut Private Equity Closes Fifth Fund at $500 Million
TULSA, Okla.- Argonaut Private Equity, a private equity firm focused on investing in Middle America, today announced the final closing of Argonaut ...
Posted 04/13/2023
Argonaut Acquires Center Rock
TULSA, OK, April 13, 2023 --Argonaut Private Equity, a Tulsa, OK-based private equity fund, has announced the acquisition of Center Rock Inc., a Be...
Posted 05/04/2022
Argonaut Acquisition Marks Second Investment in Fund V
Tulsa, Okla.—Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of Bandera Utility Contractors, a leading...
Posted 04/22/2022
Cypress Environmental Partners Reports New Lender
TULSA, Okla.--( BUSINESS WIRE )--Today, Cypress Environmental Partners, L.P., (NYSE: CELP) (“Cypress”) reported that an affiliate of Argonaut Priva...
Posted 02/08/2022
Argonaut Holds Closing, Makes First Investment in Fund V
February 7, 2022, 9am CST Tulsa, Okla.—Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of Miller Con...
Posted 02/07/2022
FABco, a Portfolio Company of Argonaut Private Equity, Completes the Acquisition of Volunteer Rebar
February 7th, 2022, 9am CST Houston, Texas -- FABco, a portfolio company of Tulsa, Okla.-based Argonaut Private Equity, announced its early 2022 a...
Posted 09/16/2021
New Partnership Between Argonaut Private Equity and FABco Brings Growth Opportunity
Tulsa, Okla.-- Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced its partnership with FABco, a leading provider of concr...
Posted 08/02/2021
Argonaut Private Equity Partners With Crimson Steel Supply
Tulsa, Okla.-- Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of Oklahoma-based Crimson Steel Supply....
Posted 03/22/2021
Argonaut Private Equity Acquires Pioneer Well Services Assets
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of the assets of Pion...
Posted 10/05/2020
Argonaut sells Otis Eastern to Artera Services
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a Tulsa, Okla. based private equity firm, announced it has completed the sale of Otis Eas...
Posted 09/01/2020
Argonaut Private Equity Acquires Cementing Solutions Business Amid BJ Services Bankruptcy; Rebrands Operation as American Cementing
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of a cementing soluti...
Posted 08/19/2019
Argonaut Private Equity Announces Final Close of Argonaut Private Equity Fund IV at $400 Million
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a Tulsa, Oklahoma-based private equity firm announced today the final closing of Argonaut...
Posted 03/01/2018
Argonaut Private Equity Sells Falcon Flowback Services
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a middle-market private equity firm, announced it has completed the sale of Falcon Flowba...
Posted 04/08/2017
Argonaut Private Equity buys local manufacturer MIRATECH
A local private equity firm recently acquired a Tulsa-based producer of emission and acoustic solutions — the components used to bring all manner o...
Posted 06/09/2025
Tulsa-Based Power Distribution Solutions Provider Announces Bold New Brand
Tulsa, Okla. (June 9, 2025) – Today, premier power distributions solutions provider Layco Electric Innovations announced a corporate rebrand to Ame...
Posted 08/27/2024
Argonaut Announces New Partnership With St. Louis-based Hammer & Steel®
TULSA, Okla.- Argonaut Private Equity has added Hammer & Steel Global, LLC to its growing Fund V portfolio. The partnership is the latest example o...
Posted 07/31/2024
Argonaut Private Equity Partners with Layco Electric Innovations
TULSA, Oklahoma – Argonaut Private Equity, a private equity firm focused on investing in Middle America, has announced a partnership with Layco El...
Posted 06/03/2024
Argonaut Private Equity Closes Fifth Fund at $500 Million
TULSA, Okla.- Argonaut Private Equity, a private equity firm focused on investing in Middle America, today announced the final closing of Argonaut ...
Posted 04/13/2023
Argonaut Acquires Center Rock
TULSA, OK, April 13, 2023 --Argonaut Private Equity, a Tulsa, OK-based private equity fund, has announced the acquisition of Center Rock Inc., a Be...
Posted 05/04/2022
Argonaut Acquisition Marks Second Investment in Fund V
Tulsa, Okla.—Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of Bandera Utility Contractors, a leading...
Posted 04/22/2022
Cypress Environmental Partners Reports New Lender
TULSA, Okla.--( BUSINESS WIRE )--Today, Cypress Environmental Partners, L.P., (NYSE: CELP) (“Cypress”) reported that an affiliate of Argonaut Priva...
Posted 02/08/2022
Argonaut Holds Closing, Makes First Investment in Fund V
February 7, 2022, 9am CST Tulsa, Okla.—Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of Miller Con...
Posted 02/07/2022
FABco, a Portfolio Company of Argonaut Private Equity, Completes the Acquisition of Volunteer Rebar
February 7th, 2022, 9am CST Houston, Texas -- FABco, a portfolio company of Tulsa, Okla.-based Argonaut Private Equity, announced its early 2022 a...
Posted 09/16/2021
New Partnership Between Argonaut Private Equity and FABco Brings Growth Opportunity
Tulsa, Okla.-- Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced its partnership with FABco, a leading provider of concr...
Posted 08/02/2021
Argonaut Private Equity Partners With Crimson Steel Supply
Tulsa, Okla.-- Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of Oklahoma-based Crimson Steel Supply....
Posted 03/22/2021
Argonaut Private Equity Acquires Pioneer Well Services Assets
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of the assets of Pion...
Posted 10/05/2020
Argonaut sells Otis Eastern to Artera Services
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a Tulsa, Okla. based private equity firm, announced it has completed the sale of Otis Eas...
Posted 09/01/2020
Argonaut Private Equity Acquires Cementing Solutions Business Amid BJ Services Bankruptcy; Rebrands Operation as American Cementing
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of a cementing soluti...
Posted 08/19/2019
Argonaut Private Equity Announces Final Close of Argonaut Private Equity Fund IV at $400 Million
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a Tulsa, Oklahoma-based private equity firm announced today the final closing of Argonaut...
Posted 03/01/2018
Argonaut Private Equity Sells Falcon Flowback Services
TULSA, Okla.--( BUSINESS WIRE )--Argonaut Private Equity, a middle-market private equity firm, announced it has completed the sale of Falcon Flowba...
Posted 04/08/2017
Argonaut Private Equity buys local manufacturer MIRATECH
A local private equity firm recently acquired a Tulsa-based producer of emission and acoustic solutions — the components used to bring all manner o...
