Locke Lord represented CSL Capital Management, LLC (CSL) in two recent acquisitions from related companies Bayou Workover Services, LLC and Bayou Well Services, LLC (together, Bayou). CSL is a Houston-based private equity firm focused on oilfield services companies.
In the first transaction, Allied Energy Services, LLC (Allied), a newly-formed portfolio company of CSL, acquired all of the pressure pumping and hydraulic fracturing assets of Bayou. The acquisition of these assets by Allied increases the scope of offerings of CSL’s well completions platform. Financial terms were not disclosed. David Lange (Dallas) led the Locke Lord transaction team, with assistance from Matt Stockstill, Van Jolas, Geoff Polma, Susan Rainey, Kim Williams, Masae Ellis and Marc Lipscomb (all of Dallas), Karl Fryzel (Boston), Ed Razim (Houston), and Victoria de Lisle (New Orleans).
In the second transaction, CSL portfolio company Ranger Energy Services, LLC (Ranger) acquired the well services, well workover, fluid management, well completions and snubbing operations and related equipment rental operations of Bayou. The transaction also included the contribution to Ranger of another company recently acquired by CSL – Magna Energy Services, LLC. The combination of these two acquisitions with Ranger expands Ranger’s geographic coverage and diversifies the well services company’s offerings. Financial terms were not disclosed. Matt Stockstill (Dallas) led the Locke Lord transaction team, with assistance from David Lange, Andrew Betaque, Van Jolas, Geoff Polma, Susan Rainey, Kim Williams, Nathan Crow, Masae Ellis, Marc Lipscomb and Matt Olson (all of Dallas), Karl Fryzel (Boston), Ed Razim and Laura Ferguson (both of Houston). For more information, please see the CSL press release.
Posted October 17, 2016