RLMcCall Capital Partners has partnered with Dos Rios Partners to acquire Case Drilling & Pump Service, a provider of fresh water well drilling and maintenance services.
Case Drilling & Pump Service is a provider of fresh water well drilling and maintenance services to contract drilling firms, E&P operators, agri-businesses, residential consumers and municipalities across West Texas. Historically, the company’s service area extended within a 150-mile radius of Stanton, TX and covered Martin, Midland, Howard and Glasscock counties. However, in the last six months, the company has begun to expand its operations into Andrews County, which lies west of Martin County. The company was founded in 1939 and is based in Stanton, TX (no website found).
“We are excited to be partnering with Case Drilling and Dos Rios,” said Eric Blue, Partner of RLMcCall, “and we look forward to working with Case’s talented and experienced management team to advance the company’s successful strategy.”
RLMcCall Capital Partners invests in both lower middle-market change-of-control transactions and in non-control, growth investments in the oil & gas, general industrials and media & telecommunications sectors. RLMcCall sponsors or co-sponsors transactions involving businesses with enterprise values from $10 million to $50 million with EBITDA of $500,000 to $15 million. The firm is based in New Orleans (www.rlmcall.com).
“We are particularly excited about the expansion of our oil and gas services acquisition platform in the Permian Basin as we believe the Permian has many more years of exploration-, drilling- and logistics-linked growth to come,” said Earl Robinson, an RLMcCall Partner.
RLMcCall is committed to sourcing and executing non-traditional, supply chain-focused transactions that grow the industrial services opportunity set and the skilled labor pool in certain regions of the United States. “Our focus is to partner with management teams to fuel the expansion of niche-focused, lower middle market companies, the growth engine of the US economy,” said RLMcCall Partner Neill Wright.
This transaction underscores not only our commitment to investing in the oil and gas sector, but also our focus on high growth opportunities and regions such as the Permian,” said Hank Torbert, an RLMcCall Partner.
Dos Rios is private equity partnership formed by four Partners: Bo Baskin, Wayne Patterson, Jay Turner and Kevin Benoit. Dos Rios invests from $5 million to $15 million in the junior securities of proven, growing niche businesses with approximately $2 million to $8 million in EBITDA. Dos Rios can help these small businesses with either control or non-control transactions. The firm is based in Austin with additional offices in San Antonio, Dallas and Houston (www.dosriospartners.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 6-27-14
