Oilfield executive pays $2M for Berthoud property

BERTHOUD — Oilfield executive Gary Roberts has paid $2 million in cash for property in Berthoud that includes an office and warehouse building that will be occupied by Vision Oil Tools LLC, a provider of oilfield rental tools and fishing services to the oil and gas industry.

Roberts said he and his wife bought the building at 208 Gateway Drive through the entity GCR Services LLC from Swofford Properties LLC and will lease the building to Vision Oil.

Roberts was chief executive of Texas-based Vision Oil Tools that operates in Texas, North Dakota and Colorado, including Fort Lupton, prior to the company’s sale to B/E Aerospace in April.

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Vision Oil Tools sold the company’s assets to B/E Aerospace Inc. through BEA Logistics Services LLC, a subsidiary of B/E Aerospace. The publicly-traded company (Nasdaq: BEAV) has a market capitalization in excess of $9 billion and $3.5 billion in 2013 sales. B/E Aerospace has expanded into the oilfield rental equipment, logistics and services business, and Vision is one of several businesses that BEA Logistics Services has acquired in this area.

Roberts is now serving as vice president and general manager of Vision Oil Tools. He said the company was outgrowing its space in Fort Lupton and was looking for a larger space and found it in Berthoud.

Craig Hau of Sperry Van Ness/The Group Commercial LLC listed the property and represented the buyer in the property sale.

The term fishing refers to removing an object from a wellbore. It can be anything from a piece of scrap metal to a part of a drill stem.