Who Owns Cactus Wellhead Company?

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Who Owns Cactus Wellhead Company?

Understanding a company's ownership is key to grasping its strategic direction and operational choices. Cactus, Inc.'s transition to a public entity via its February 2018 IPO marked a significant shift in its ownership structure.

Founded in 2011, Cactus, Inc. is a Houston-based energy sector firm specializing in wellheads and pressure control equipment for onshore oil and gas wells. Their innovative designs cater specifically to unconventional resource development, establishing a strong market presence, particularly in the U.S. land market.

Who owns Cactus Wellhead Company?

Following its IPO, the ownership of Cactus, Inc. became distributed among public shareholders. Key stakeholders, including founders and early investors, likely retained significant stakes, influencing the company's trajectory. The company's product offerings include solutions like the Cactus Wellhead BCG Matrix.

Cactus, Inc. was established in August 2011 by co-founders Scott Bender and Joel Bender, who brought significant expertise in wellhead manufacturing. Cadent Energy Partners also played a crucial role as an equity sponsor from the outset. Scott Bender currently leads the company as President and CEO, with Joel Bender serving as Chief Operating Officer.

Founding Team Expertise

Scott Bender and Joel Bender, along with Steven Bender, are recognized as co-founders. Their family's prior experience included establishing and managing Wood Group Pressure Control before its sale in 2011, providing a strong foundation for their new venture.

Initial Operations

The company's first manufacturing facility was secured in Bossier City, Louisiana, in September 2011. This marked the physical beginning of their operations and strategic focus.

Vision and Technology

The founding team's vision centered on developing advanced wellhead and pressure control equipment tailored for unconventional oil and gas extraction. Their innovative SafeDrill™ technology was introduced shortly after the company's inception.

Early Ownership Structure

Initial ownership agreements involved the Bender family and Cadent Energy Partners. Cadent Energy Partners held specific ownership interests in Cactus LLC prior to the company's Initial Public Offering (IPO).

Post-IPO Ownership

Following the IPO, Cadent Energy Partners continued to hold Class B common stock in Cactus, Inc. They also maintained units in Cactus Companies, LLC, indicating a continued stake in the company's structure.

Key Leadership Roles

Scott Bender serves as the President and Chief Executive Officer, guiding the company's overall strategy and operations. Joel Bender holds the position of Chief Operating Officer, overseeing the day-to-day operational aspects.

The Bender family's deep-rooted experience in the oil and gas sector, particularly in pressure control equipment, provided a significant advantage when establishing Cactus, Inc. Their strategic focus on innovation, exemplified by the SafeDrill™ technology, aimed to address the evolving needs of unconventional resource development. Understanding the Growth Strategy of Cactus Wellhead provides further context on their market approach.

Founders and Key Stakeholders

Cactus, Inc. was co-founded in August 2011 by Scott Bender and Joel Bender, leveraging their extensive background in wellhead manufacturing. Cadent Energy Partners was an integral equity sponsor from the company's inception.

• Co-founders: Scott Bender, Joel Bender, and Steven Bender
• Key Leadership: Scott Bender (President & CEO), Joel Bender (COO)
• Equity Sponsor: Cadent Energy Partners
• Previous Family Venture: Wood Group Pressure Control
• Initial Facility Acquisition: September 2011 in Bossier City, Louisiana

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Cactus, Inc. transitioned to a publicly traded entity on February 7, 2018, via an IPO on the New York Stock Exchange, raising approximately $435.2 million. This move facilitated expansion and debt reduction while allowing the founding family to retain significant ownership and control.

The ownership structure of Cactus, Inc. is heavily dominated by institutional investors, who collectively held 85.11% of the company's stock as of July 30, 2025. This significant institutional backing underscores the company's appeal to larger investment entities. The acquisition of FlexSteel Technologies Holdings, Inc. in early 2023, which expanded Cactus's Spoolable Technologies segment, was partly funded by a $125 million offering of Class A common stock, further illustrating the role of public offerings in the company's financial strategy and ownership evolution. Understanding the Revenue Streams & Business Model of Cactus Wellhead can provide further context on why these investors are interested.

Major Institutional Shareholders

Institutional investors are the primary holders of Cactus, Inc. stock, demonstrating strong confidence in the company's market position and growth prospects.

• Blackrock, Inc. held 10,071,638 shares as of March 31, 2025.
• Fmr Llc owned 8,457,042 shares as of March 31, 2025.
• Vanguard Group Inc. possessed 7,500,647 shares as of March 31, 2025.
• Other significant holders include T. Rowe Price Investment Management, Inc., JPMorgan Investment Management, Inc., and State Street Corp.

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The Board of Directors at Cactus, Inc. is responsible for guiding the company's strategic decisions and overall governance. Scott Bender holds the positions of Chairman of the Board and Chief Executive Officer, with Joel Bender, a co-founder, serving as President and a Director. Steven Bender is the Chief Operating Officer.

Cactus, Inc. employs a unified voting structure where holders of both Class A and Class B Common Stock vote together on all matters. Each share typically carries one vote, and there is no provision for cumulative voting in director elections. Amendments to the company's foundational documents require a supermajority vote of 66 2/3% of outstanding shares until the 2026 annual meeting, after which a simple majority will suffice. The Stockholders' Agreement, established during the IPO, mandates that the company, Cadent, and HoldCo (Cactus WH Enterprises) ensure the election of their nominated directors. Directors such as Bruce M. Rothstein, John A. O'Donnell, and Alan Semple have affiliations with Cadent or HoldCo, indicating a significant influence from these entities on the board composition, which is a key aspect of understanding Cactus Wellhead Company ownership.

Board Influence and Voting Power

Understanding the voting power and board structure is crucial for grasping Cactus Wellhead Company ownership. The agreement ensures specific director nominations, highlighting the influence of key stakeholders.

• Class A and Class B stockholders vote as a single class.
• Each share generally has one vote.
• No cumulative voting for directors.
• Supermajority vote required for certain charter/bylaw amendments until 2026.
• Stockholders' Agreement dictates director nominations by the company, Cadent, and HoldCo.
• Directors associated with Cadent or HoldCo are part of the board.
• This structure is important for those researching Who acquired Cactus Wellhead and Cactus Wellhead parent company.
• For a deeper dive into market positioning, see the Target Market of Cactus Wellhead.

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Over the past few years, Cactus, Inc. has undergone significant transformations impacting its ownership landscape. These changes reflect a strategic push for growth and market expansion, influencing who ultimately controls the company and its direction.

Insider ownership in Cactus, Inc. was recorded at 13.75% as of July 2025. While no insider purchases have been reported in the preceding 12 months, significant share sales totaling over $60 million have been made by insiders like Scott Bender, Joel Bender, and Steven Bender within the last 24 months. Institutional investors, such as Vanguard Group Inc. holding 7,680,731 shares as of July 30, 2025, maintain a substantial presence. The public or Class A ownership averaged and concluded the second quarter of 2025 at 86%. The company has demonstrated a commitment to returning value to shareholders, approving an 8% increase in its quarterly dividend to $0.14 per Class A share in July 2025. For the entirety of 2025, net capital expenditures are projected to be between $40 million and $45 million.

Insider Ownership Trends

Insider ownership stands at 13.75% as of July 2025. Significant share sales by key insiders have occurred over the past two years.

Institutional Investor Activity

Major institutions like Vanguard Group Inc. are significant shareholders. Public ownership represents a substantial majority of the company's shares.

Strategic Acquisitions and Joint Ventures

The acquisition of FlexSteel in February 2023 and the planned joint venture with Baker Hughes' Surface Pressure Control business highlight strategic growth initiatives.

Financial Outlook and Shareholder Returns

The company anticipates net capital expenditures between $40 million and $45 million for 2025. An 8% increase in the quarterly dividend was approved in July 2025.

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