The Houston-based Nabors Industries Ltd. will soon be acquiring the also Houston-based company, Tesco Corp. Tesco’s primary business is the full design, manufacture, and service of technological solutions for the energy industry. This deal is expected to finalize in the final quarter of this year. However, it has been agreed that if by some chance the deal has not been finalized by February 14 of next year, Nabors will pay Tesco 8 million more dollars. This deal will partner Tesco with Nabor’s rig equipment subsidiary, Canrig.
This is all part of a business strategy Nabor’s president, CEO, and Chairman Anthony Petrello led the company in forming several years ago. He has led the company to become the current world leader in geothermal and natural gas contracting. He began his illustrious career by attending and graduating from both Harvard and Yale. At Harvard, he earned his J.D. degree. At Yale, he earned B.S. and M.S. degrees in Math. After graduation, he entered the working world with position at law firm called Baker & McKenzie.
Petrello first joined the Nabors team in 1991 as its COO, president, and Deputy Chairman. During the 90s, he helped see the company through financial difficulties it would have for the entire decade. He steadily climbed ladder of leadership. Today, in addition to his significant leadership roles at Nabors, Petrello is the director of Stewart & Stevenson and Hillcorp Energy Company. He is also active in children’s health projects, serving on the Board of Trustees for Texas Children’s Hospital. This passion to help with medical research for children’s afflictions came about after his 24-week old daughter was diagnosed with periventricular leukomalacia (PVL).
As a result, Carena was also diagnosed with cerebral palsy, which is associated with developmental delays and chronic motor skill impairment. Over the course of the past few years he has donated over $5 million to such causes and has pledged more in the future.
Don Ressler and Adam Goldenberg have a unique and similar history. Both of these businessmen found success at a very early age. Adam Goldenberg created a gaming company called Gamers Alliance when he was 15 years old. He developed the company into a million dollar business and sold it to a large corporation. Adam became a high-ranking executive at Intermix, the company that bought Gamers Alliance. He eventually met Don Ressler. Don was another young executive at the company who had sold his start-up business to Intermix. Done founded Fitness Heaven and turned it into a thriving internet franchise.
Intermix eventually sold out to a large corporation. Don and Adam decided that it was in their best interest to go out on their own. Their first venture was JustFab. JustFab was an interesting concept that involved women’s clothing apparel. Their focus was on bringing innovation to the retail industry. Choosing women’s fashion was an interesting and daring choice. The JustFab business model was designed to give retail shoppers a different experience. Don and Adam focused on their specialty which was marketing on the internet. The JustFab products would be sold online at a discount to those who became members of the website. The product would then be been shipped to the consumers.
JustFab was a success and the company grew rapidly. Adam & Don quickly entertained the idea of bringing in investors to help support the high demand for their services. JustFab began an international marketing campaign.
Fabletics followed JustFab as a new concept from Don Ressler and Adam Goldenberg. They teamed with actress Kate Hudson to market the product to its target audience. Fabletics is a women’s athletic clothing design that is also available online. Fabletics was very well received and soon its creators had to introduce new retail options for its consumers. Don and Adam decided to open retail stores in order for JustFab customers to have a visible shopping experience with the products.
The Fabletics retail stores operate in the same manner as the online stores. Each member has an account that is monitored. The website automatically suggest future purchases of those who look to further continue shopping. The website is designed to keep its members more interactive.