Drilling tool manufacturer Superior Drilling Products Inc. (SDP) has retained financial adviser Piper Sandler & Co. to assess strategic alternatives including acquisitions, mergers and divestitures.

The company said are intended to maximize shareholder value, Superior said in a May 22 press release.

SDP’s board of directors intends to review a range of strategic alternatives. The company cautioned that no offers or agreements, made or accepted, are guaranteed. No deadlines have been set either.

No further announcements will be made, unless a specific transaction has been approved or further disclosure is deemed necessary.