As first reported by Water Well Journal® on August 12, BAUER Equipment America has reached an agreement to buy certain assets of GEFCO Inc., located in Enid, Oklahoma. Bauer will purchase all assets of the water well drilling business to continue the legacy of the well-known GEFCO brand.
In this process Bauer Equipment America will take over the inventory of the water business as well as employ GEFCO’s key personnel in production, supply chain, engineering, and service in Conroe, Texas, to maintain expertise for the company. It is also planned to honor the roots of the brand by establishing a service and sales location in Enid.
The letter of intent has been signed by both parties and the aim is to close the purchase agreement within the next six weeks. During that time the operations will continue in Enid without interruption. The focus will be to continue service during the time of transition of ownership. All sales and service people are ready to see customers and service the accounts.
BAUER Equipment America is part of the German-based BAUER Group, a provider of services, equipment, and products related to ground and groundwater, and with a history of 230 years.
Jochen Grundmann, CEO of BAUER Equipment America, said, “We look forward to continuing the legacy of GEFCO, which is based on their water well drilling business. We will use the GEFCO service quality and the outstanding customer legacy to build a sustainable water well drilling business in North America and will grow the business and the brand internationally with the Bauer global network.”
Wolfgang Puennel, head of the Water, Energy, and Mining division of BAUER Maschinen GmbH, added, “GEFCO is an important brand for the water well business strategy of Bauer in the United States. We will use the world class production facility in Conroe, Texas, to build the GEFCO product and look forward to maintaining the GEFCO quality and competence going forward with the key personnel established in Texas.”