Grand Valley Holdings and Gemspring Capital completed the acquisition of OCI.

Grand Valley Holdings, an independent sponsor focused on partnering with family-owned businesses in the Midwest, and Gemspring Capital, a middle-market private equity firm, completed the acquisition of OCI, a manufacturer of custom-built foundation drilling components primarily for the infrastructure and construction end markets. Financial terms were not disclosed. OCI serves as a one-stop-shop for geotechnical contractors' needs, offering a wide product suite of foundation drilling components including steel casing, drill string, hammers, bits, augurs, core barrels, and swivels. The Company also provides value-added services such as consulting, project management, equipment rental, and equipment servicing, positioning the business as a turnkey solution for customers.