Drill rig builder Schramm announced in late November that, in association with private equity firm GenNx360 Capital Partners, it has acquired Air Drill Hammers and Bits Pty Ltd., in addition to Air Drill Pty Ltd., based in Perth, Australia. Air Drill Hammers and Bits is a manufacturer of drill hammers and percussion bits used in reverse circulation mineral exploration and mining applications.
Air Drill Pty Ltd. has been Schramm’s exclusive distributor for hydraulic top drive drill rigs in Australia since the 1990s, providing rigs used in mineral exploration, coal seam gas and water well drilling, and custom configuring Schramm’s rigs to local drilling contractor requirements and compliance with Australian government standards.
Offering rigs with top head drives and hook loads to 500,000 lb (226,796 kg), Schramm’s machines are used in the energy, mineral exploration, geothermal and water well sectors in more than 80 countries. According to the company, more than 75% of its revenues are derived from export sales and field service support.
GenNx360 Capital Partners is a private equity firm headquartered in New York City.