Keane & Sons Drilling Co. acquired by large private equity firm

One of the leading drilling and hydraulic fracturing service providers in the Marcellus Shale in Pennsylvania, West Virginia and Ohio, Keane & Sons Drilling Co. had grown to the point where the company’s major shareholders wished to diversify their holdings. On behalf of Keane, Capital Alliance interacted with approximately 25 potential buyers before a deal was struck with Cerberus Capital Management, LP, one of the largest and most highly respected private equity firms in the U.S. Keane’s shareholders sold roughly 80 percent of the company for over $100 million.