A Locke Lord team led by Joe Perillo (Houston) represented Motley Services, LLC, in the company’s acquisition by KLX Energy Services Holdings, Inc. for $148 million. Motley Services, a portfolio company of District 5 Investments, LP, is a leading large diameter coiled tubing service provider, serving customers primarily in the Southwestern United States. KLX Energy Services will purchase Motley for $139 million in cash and $9 million of KLX Energy Services common stock. The transaction closed Nov. 5, 2018. Additional assistance was provided by Lauren Corbeil, Michael Blankenship, Jerry Higdon, Sara Longtain, Paul Pruett, Ed Razim, Buddy Sanders, Emily Self and Ben Smolij (all of Houston), Van Jolas and Brooks Vanlandingham (both of Dallas).
Posted on November 5, 2018