Finco, Inc. acquires StraightLine assets and product line —
company poised to substantially expand its HDD product
offering.
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All over the world,
StraightLine® products are out there — working. |
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NEWTON, Kan. — Don Cary, President of Finco, Inc. dba
Source: HDD, a major supplier of new and used horizontal
directional drilling equipment and accessories, announced
today, that Source: HDD recently acquired 100% of the assets
of the former StraightLine Manufacturing, Inc., including
the company’s complete line of horizontal directional
drilling machines, tools and accessories.
“I am very excited about the future possibilities that our
acquisition of StraightLine represents,” says Cary. “We will
continue to aggressively promote the StraightLine drilling
and tooling systems. In addition to offering buyers another
major equipment supplier, the acquisition positions Source:
HDD to rapidly expand their HDD tool and accessory product
offerings. Specifically it will allow the company to expand
its line of OEM replacement parts for all brands of
directional drilling equipment.
The concept for the StraightLine acquisition grew out of
the fact that Source: HDD had outgrown its Wichita, KS
facility and was looking to expand its manufacturing
capabilities. Cary approached StraightLine's majority owner
with an asset buy-out proposal that garnered Source: HDD all
of StraightLine's assets. Source: HDD now occupies the
former StraightLine facility in Newton, KS. The facility’s
13 acres will accommodate the company’s growing equipment
inventory.
“StraightLine has a rich history of developing industry
leading designs and we want to capitalize on that knowledge
and carry that tradition into the future to the benefit of
the HDD industry,” says Cary. Cary founded StraightLine
Manufacturing in 1983 and in 1989 became one of the first
companies to manufacture and commercially market horizontal
directional drilling systems. Having taken the business to
$13 million in sales by 1995, Cary stepped into the role of
a minority owner in StraightLine Manufacturing, and, again
donned his entrepreneurial hat. Cary shared his knowledge as
a consultant and because demand for his services grew so
rapidly, in 2000, Cary founded Source: HDD to support
horizontal directional drilling contractors. “We go beyond
selling a customer products,” says Cary. “We become partners
with our customers.”
Source: HDD offers all brands of used drill rigs, mud
mixing & delivery systems, vacuum & pothole systems, new and
used tooling and locating equipment. All equipment is
inspected, repaired as necessary, fully serviced and tested
for complete functionality. “When we say it's ready to work,
we mean it,” says Cary.
"We're not just in Kansas anymore,” Cary says with a smile.
“Nor are we just in the United States. Over the past several
years we have delivered directional drilling equipment,
tools, and accessories to Canada, the United Kingdom,
Singapore, Malaysia, Australia, India, Poland, Ukraine and
the Russian Federation. We understand the workings of
international business and stand ready to serve our
customer's requirements around the globe.”
Cary has served as consultant, panel member and presenter
at industry symposiums hosted by the North American Society
of Trenchless Technology; at the International Construction
Utility Equipment Exposition; the Georgia Utility
Coordinating Council; Missouri Western State College and the
Missouri Department of Transportation.
