What Versa Drill does

Versa-Drill is a privately held U.S. designer and assembler of premium mid-sized drilling rigs, operating as a product line of Laibe Corporation from its headquarters and manufacturing facility at 1414 Bates Street in Indianapolis, Indiana. The company has built drilling rigs since 1962 and is recognized as the leading manufacturer of mid-sized drilling rigs in North America, serving water well drilling, geothermal, air rotary, exploration, cathodic protection, and sonic drilling applications. Its product portfolio centers on seven core platforms — the V-12, V-125X, V-140X, V-140TRX, MARK50, MARK70, and Versa-Sonic — spanning pullback capacities from 12,000 to 70,000 lbs, with modular configurations that allow a single platform to serve multiple drilling applications. Notable technical components include proprietary rotary head technology and a proprietary carousel rod handling system capable of holding 300 feet of rods with automated handling that eliminates manual rod contact, cited by customers as a primary ease-of-use and safety differentiator.

Versa-Drill generates revenue primarily through one-time capital equipment sales of new and pre-owned rigs, priced on a custom-quote basis with financing options available, and is actively expanding a secondary aftermarket stream of parts, service, and technical support for its installed base. The company operates a direct enterprise field-sales model targeting mid-sized and large drilling contractors, with no resellers or distributors; sales are conducted via phone, email, dedicated contact forms for new rigs, pre-owned rigs, parts, and service, supported by content marketing including customer testimonials, video demonstrations, and a customer spotlight program. Customers are predominantly SMB drilling contractors across water well, corrosion control, geothermal, and general drilling end markets.

In July 2025, Versa-Drill was acquired by Los Angeles-based private equity firm Charger Investment Partners, with original founder Mark Laibe plus leadership team members Marcus Laibe and Marty Wright retaining significant ownership. The acquisition is aligned with Charger's strategy of investing in founder-led industrial businesses serving mission-critical infrastructure markets and provides growth capital specifically earmarked for new product development — including a track-mounted rig targeting the geothermal market — and for scaling the aftermarket parts and service business.

Name

Versa Drill

Legal name

Versa-Drill

Website

https://laibecorp.com

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

11–50 employees

Short description

Versa-Drill is a privately held Indianapolis-based designer and assembler of premium mid-sized drilling rigs (12,000–70,000 lbs pullback), serving SMB water well, geothermal, air rotary, exploration, cathodic protection, and sonic drilling contractors across North America through direct enterprise field sales.

Ownership category

akta.pro rank

Product category

Drilling Equipment Manufacturing

NAICS

Mining and Oil and Gas Field Machinery Manufacturing (33313), Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Construction, Mining & Materials Handling Machinery & Equip (3530), Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Drilling Rigs & Drill Systems (IMAHAMAA)

akta.pro secondary industries

Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL), Rock Drilling & Blasthole Drilling Equipment (IMAHAMAC)

Keywords

• Drilling rig manufacturing
• Water well drilling rigs
• Geothermal drilling equipment
• Sonic drilling rigs
• Cathodic protection drilling

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Drilling Rig Sales: Versa-Drill designs and assembles premium drilling rigs for water well, geothermal, air rotary, exploration, cathodic protection, and sonic drilling applications. Both new and pre-owned rigs are sold directly to customers. Revenue is generated through one-time capital equipment sales with varying price points based on rig specifications and pullback capacity.
2. Aftermarket Parts and Service: Following acquisition, Versa-Drill is expanding its aftermarket parts and service offerings to provide ongoing support for the installed base of drilling rigs. This includes parts sales, service support, and technical assistance to maintain customer loyalty and generate recurring revenue from the existing customer base.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Versa-Drill designs and assembles custom drilling rigs in Indianapolis, Indiana, spanning pullback capacities from 12,000 to 70,000 lbs for water well, geothermal, air rotary, exploration, cathodic protection, and sonic drilling applications. Its portfolio includes the V-series (V-12, V-125X, V-140X, V-140TRX), MARK-series (MARK50, MARK70), and Versa-Sonic platforms, complemented by pre-owned rigs, drill rig accessory equipment, and aftermarket parts and service.

Product overview

Versa-Drill is a designer and assembler of premium drilling rigs serving water well, geothermal, cathodic protection, and exploration drilling applications. The product portfolio centers on seven core drilling rig models spanning pullback capacities from 12,000 to 70,000 lbs, including the V-series (V-12, V-125X, V-140X, V-140TRX) and MARK-series (MARK50, MARK70) platforms, plus the Versa-Sonic line utilizing sonic vibration technology. These rigs are organized across six application-specific categories (Water Well, Geothermal, Air Rotary, Exploration, Cathodic Protection, and Sonic), with the V-12, V-125X, V-140X, and MARK50 serving multiple application types. The company also offers Pre-Owned Drilling Rigs, Drill Rig Accessory Equipment, and comprehensive Parts & Service support. Versa-Drill is recognized as the top manufacturer of mid-sized drilling rigs in North America, with all products manufactured in America.

Differentiator

Problem solved

Functional benefit

Products and services

• V-12 Drilling Rig Mid-sized drilling rig with 12,000 lbs pullback capacity designed for water well and geothermal applications.
• V-125X Drilling Rig Mid-sized drilling rig with 25,000 lbs pullback capacity designed for water well and geothermal applications.
• V-140X Drilling Rig Mid-sized drilling rig with 40,000 lbs pullback capacity designed for water well and geothermal applications.
• V-140TRX Drilling Rig Air rotary/mud drilling rig with 40,000 lbs pullback capacity featuring track-mounted design.
• MARK50 Drilling Rig Heavy-duty drilling rig with 50,000 lbs pullback capacity designed for water well, geothermal, exploration, and cathodic protection applications.
• MARK70 Drilling Rig Heavy-duty air mud drilling rig with 70,000 lbs pullback capacity for demanding drilling operations.
• Versa-Sonic Drilling Rig Sonic drilling rig with 20,000 lbs pullback capacity utilizing sonic vibration technology for efficient drilling in various soil conditions.
• Pre-Owned Drilling Rigs Certified pre-owned Versa-Drill drilling rigs available for purchase.
• Drill Rig Accessory Equipment Supporting equipment and accessories for Versa-Drill drilling rigs including rod handling systems.
• Parts & Service Aftermarket parts, service support, and technical assistance for Versa-Drill drilling rigs.

Quantifiable outcome

• Customer reports tripled productivity compared to previous equipment

Named customers11 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Mark Laibe (Founder)coreStrategic or Co-development Partner · 11 July 2025Original founder Mark Laibe retains significant ownership alongside the new private equity investment. As the founder, Mark Laibe brings deep domain expertise in drilling rig design and manufacturing that continues to inform product development and company direction.
• Marcus Laibe (Leadership)coreStrategic or Co-development Partner · 11 July 2025Marcus Laibe is part of the existing leadership team that retains significant ownership following the acquisition by Charger Investment Partners. Continues to provide operational leadership and industry expertise.
• Marty Wright (Leadership)coreStrategic or Co-development Partner · 11 July 2025Marty Wright is part of the existing leadership team that retains significant ownership following the acquisition by Charger Investment Partners. Continues to provide operational leadership and industry expertise.

Scale indicators1 record

Recent moves5 records

Expansion highlights6 records

Direct peers

• Diedrich Drill: Designs and manufactures water well, environmental, and geotechnical drilling rigs in a similar mid-sized capacity range. Direct competitor to Versa-Drill in the North American drilling contractor market, particularly for water well and exploration applications.
• Schramm Inc. Manufactures land-based drilling rigs for water well, geothermal, and mineral exploration with comparable pullback capacities. Direct peer competing for the same mid-sized rig contractors across multiple drilling applications.
• Central Mine Equipment (CME): Produces rotary and auger drilling rigs for water well, environmental, geotechnical, and exploration markets. Closely comparable product line and target customer base to Versa-Drill in the North American mid-sized rig segment.
• Fraste: Italian manufacturer of drilling rigs for water well, geotechnical, environmental, and mineral exploration with multi-application platforms. Comparable product breadth to Versa-Drill's seven-model portfolio and similar SMB contractor customer focus.

Broad incumbents

• Boart Longyear: Global drilling services and equipment provider serving mineral exploration, production, and energy markets. Overlaps with Versa-Drill in exploration drilling rigs but operates at significantly larger scale with broader service offerings.
• Atlas Copco (Epiroc): Global industrial OEM offering a wide portfolio of drilling rigs for mining, construction, water well, and exploration. Competes with Versa-Drill in larger pullback capacities and broader geographies, but does not specialize in mid-sized rigs for SMB contractors.
• Sandvik Mining and Rock Solutions: Provides drilling rigs and equipment for mining, rock excavation, and exploration applications. Adjacent competitor with overlapping surface drilling products but focused on larger-scale mining and rock excavation customers.
• Epiroc: Major OEM of drilling rigs and equipment for mining and infrastructure. Overlaps with Versa-Drill in exploration and surface drilling but serves larger customers with broader equipment portfolios and global service networks.
• Terex (Drilling Products): Diversified equipment manufacturer with a drilling rig product line for water well, environmental, and geotechnical applications. Comparable product category but broader industrial portfolio and significantly larger scale than Versa-Drill.
• Caterpillar: Global heavy equipment OEM with drilling rig offerings and Cat Financial services for infrastructure customers. Competes at the high end of pullback capacity but does not focus on the mid-sized SMB drilling contractor segment Versa-Drill serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Versa Drill