2010-09-02 01:04:24 -

Exploreco International, LLC (EIL) announced today that its original co-founders, Don and Barry Milner, have recently completed the purchase of 100% outstanding shares of the company’s stock.

The transactions which have been underway for months included purchasing warrants from 3 separate private equity/hedge funds and repurchasing the majority stake formerly held by Rosbottom Interests. The Milners sold the majority of the stock to Rosbottom in the fall of 2007 but remained part of the management team. The change of ownership together with equity commitments from the Milners ensures that EIL can again position itself as a major supplier of OCTG products.

In response to the change in ownership, current CFO Walt Wilson, said, “The Company has done an extraordinary job in retiring

nearly $100 million of debt in a short period of time during a severe downturn in the market. With that now behind us, we have emerged financially strong and with a very solid relationship with Wells Fargo Bank. With the Milners once again in control, I look forward to a very promising future for the company.”


EIL, which was founded in 1983, is a supplier of tubular products to large independent exploration companies and from 2004 -2007 was one of the fastest growing companies in Houston. New strategic alliances with several pipe mills and processing facilities will help the company continue to be a valuable resource to these customers.



Exploreco International, LLCWalter W. Wilson, 713-796-6035 walt@exploreco.com : mailto:walt@exploreco.com