American Industrial Partners acquires The Brock Group
The Brock Group has unveiled that American Industrial Partners (AIP) has acquired majority ownership of the company. AIP is a New York-based private equity firm that focuses on buying, improving and growing industrial businesses in the U.S. and Canada. Through the transaction, a substantial new money investment has added meaningful liquidity and capital resources to […]
United Rentals completes acquisition of Neff Corp.
United Rentals Inc. has completed its previously announced acquisition of Neff Corp. for a total purchase price of approximately $1.3 billion. The purchase was funded primarily through newly issued unsecured debt. The acquisition will augment the company’s earthmoving capabilities and efficiencies of scale in key market areas, particularly fast-growing southern geographies, and is expected to […]
GE completes sale of Water & Process Technologies business to SUEZ
GE has completed the closing of the sale of GE Water & Process Technologies to SUEZ for $3.4 billion. “I am thrilled to welcome GE Water & Process Technologies’ teams and knowhow,” said Jean-Louis Chaussade, CEO of SUEZ. “This is an exciting moment for SUEZ, as our group now has an ever-stronger knowledge and skillset […]
Maximizing seller’s leverage through earn-outs
More often than not, negotiations to buy/sell a company start with a significant spread between the ask and the offer. Some of this spread is closed by negotiation but often there is an unclosable spread between what buyers are willing or able to pay and what sellers are willing to accept. One common way to […]
Carrizo to sell Utica Shale assets for $62M
Carrizo Oil & Gas Inc. has agreed to sell its assets in the Utica Shale to an undisclosed buyer. Carrizo entered into an agreement Aug. 31 to sell substantially all its assets in the Utica Shale, located primarily in Guernsey County, Ohio, for $62 million in cash, subject to customary closing conditions. Additionally, Carrizo could […]
Twin Eagle acquires Process Transloading Bridgeport terminal
Twin Eagle Sand Logistics LLC, a subsidiary of Twin Eagle Resource Management LLC, has acquired a frac sand terminaling asset near Bridgeport, West Virginia, from Process Transloading Bridgeport. The Bridgeport Terminal is positioned to serve the southern Utica and Marcellus sand logistic markets with over 130 railcar spots and 20,000 tons of flat and silo […]
GlobeLTR Energy sells well servicing division to Brigade
GlobeLTR Energy Inc., a portfolio company of affiliates of Clearlake Capital Group LP, has closed the sale of its well servicing division to Brigade Energy Services LLC, a portfolio company of Turnbridge Capital Partners LLC and affiliates. Financial terms of the transaction were not disclosed. “Clearlake is pleased with this important transaction and the strategic […]
Halcón Resources sells non-operated Williston Basin assets
Upon closing of an agreement to sell remaining non-operated assets in the Williston Basin for $110 million, Halcón Resources Corp. will have completed its transition into a pure play Delaware Basinfocused company. Halcón holds over 41,500 net acres in the core of the Delaware Basin. In its most recent deal with an undisclosed private company, […]
Enable Midstream to buy Align Midstream for $300M
Align Midstream Partners, a portfolio company of Tailwater Capital, has entered into a definitive agreement to sell the company to Enable Midstream Partners LP for approximately $300 million, subject to certain customary adjustments. Align operates a 100-million-cubic-feetper- day cryogenic natural gas processing plant in Panola, Texas, and approximately 190 miles of natural gas gathering pipelines […]
Cenovus to sell Pelican Lake assets for C$975M
Cenovus Energy Inc. has agreed to sell its Pelican Lake heavy oil operations, as well as other miscellaneous assets in northern Alberta with production of approximately 19,600 boe/day, to Canadian Natural Resources Ltd. for gross cash proceeds of $975 million Canadian. Proceeds from the sale will be applied against the $3.6 billion asset-sale bridge facility […]
ExxonMobil continues to increase acreage in Permian Basin
Exxon Mobil Corp. has added 22,000 acres to its Permian Basin portfolio since May through a series of acquisitions and acreage trades. Located in the highly prolific, stacked-oil pay zones of the Delaware and Midland Basins, the new acreage adds to the company’s existing 6 billion barrels of oil equivalent Permian Basin resource base. The […]
Phillips 66 Partners makes $2.4 billion acquisition
Phillips 66 Partners LP has reached an agreement with Phillips 66 to acquire its 25-percent interest in each of Dakota Access LLC and Energy Transfer Crude Oil Co. LLC and 100-percent interest in Merey Sweeny LP, the owner of fuelgrade coke processing units at the Phillips 66 Sweeny Refinery. The total transaction value of $2.4 […]
Chart completes acquisition of Hudson Products
Chart Industries Inc. has completed the acquisition of Hudson Products Corp. for $410 million in cash from Riverstone Holdings LLC. The signing of the definitive agreement was previously announced June 30. Founded in 1939, Hudson is a trusted leader in heat transfer solutions with an array of strong brands and products used in refining, HVAC, […]
BrandSafway to acquire Venko Groep BV
Brand Industrial Services, known as BrandSafway, has signed an agreement to acquire Venko Groep BV, a portfolio company of Mentha Capital. Venko will become a part of the Brand Energy & Infrastructure Services (Brand) group. Based in the Netherlands, with a focus on operations in the North Sea area, Venko is a leading offshore and […]
MW Industries acquires Tri-Star Industries
MW Industries has acquired Tri-Star Industries, an industry-leading manufacturer of precision-threaded inserts for plastics. Located in Berlin, Connecticut, and established in 1991, Tri-Star manufactures a complete line of standard and custom-designed threaded inserts and compression limiters in brass, steel, aluminum and stainless steel for plastic applications. The company has machining capabilities to produce metal parts […]
Clean Harbors completes Lonestar West acquisition
Clean Harbors completed the acquisition of Lonestar West, a move that immediately vaults the company into the upper echelon of hydro excavation service providers in the U.S. and Canada. An Alberta-based company, Lonestar specializes in hydro excavation and daylighting — a safer water and vacuum alternative to traditional, hard-edged digging that can damage underground pipes […]
