Petroplex is a provider of acidizing services to oil and gas exploration and production customers in the Permian Basin. Founded in 1981, the company provides acidizing and chemical treatments for oil, gas and injection wells. The company is headquartered in Midland, TX (www.petroplex.com).
“One Rock Capital Partners is pleased to partner with Babson Capital on our investment in Petroplex,” said Tony Lee, Managing Partner at One Rock. “Babson Capital’s Mezzanine & Private Equity Group has a well-deserved reputation for its responsiveness, flexibility and partner-like approach, and we look forward to working together on this and many future transactions.”
One Rock makes equity investments of $10 million to $50 million in companies operating in the chemicals, industrial and consumer durables, business services, environmental services, healthcare products, and automotive retail sectors. The firm is based in New York (www.onerockcapital.com).
“Babson Capital is excited to work with One Rock on its investment in Petroplex,” said Robert Shettle, Managing Director of Babson Capital’s Mezzanine & Private Equity Group. “With One Rock’s operational and strategic support, Petroplex is well-positioned for growth as new drilling technologies enhance the ability of oil and gas producers to tap the Permian Basin’s vast potential, and we look forward to participating in its success.”
Babson Capital had $154 billion in assets under management as of September 30, 2012 and is a member of the MassMutual Financial Group. The firm is based in Boston and Springfield, MA and Charlotte, NC and has six additional offices in the US and one in Sydney, Australia, with subsidiaries in London and Tokyo (www.BabsonCapital.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-19-12