Diversified Well Logging, Inc. Has Completed a Majority Recapitalization with Rock Hill
HOUSTON, March 27, 2012 - GulfStar Group ("GulfStar") is pleased to announce the majority recapitalization of Diversified Well Logging, Inc. ("DWL" or the "Company") by Rock Hill Capital Group ("Rock Hill"). GulfStar served as exclusive financial advisor to DWL throughout the transaction, which closed on March 15, 2012.
DWL is a leading independent provider of mud logging services, equipment, personnel and technology to the onshore and offshore oil and gas exploration and production industry. The Company serves major, national and independent oil and gas exploration companies in the Gulf of Mexico, the Eagle Ford, Haynesville and Marcellus shale plays and other surrounding regions. Additionally, DWL has a market-leading presence in supporting deepwater drilling operations, both domestically and internationally. The Company is based in Reserve, LA, with additional offices in Corpus Christi, TX and Eighty Four, PA. DWL will continue to be led by its existing management team in partnership with Rock Hill.
"The management team is excited to partner with Rock Hill. Rock Hill has taken the time to understand the business dynamics of DWL and has matched those with a capital structure to meet the future growth of the company," said Richard Klibert, CEO of DWL. "Working with the GulfStar team has enabled senior management to meet specific goals and set a course in further establishing DWL as the leading independent mud logging provider in the U.S. and globally."
The GulfStar Group transaction team included Managing Director Alan Blackburn, Vice President Brian Lobo and Associate Jay Stone. "It was a pleasure to work with the Klibert family on this transaction," said Alan Blackburn. "The family was able to achieve its goals while establishing a strong partnership with a sophisticated private equity firm."
About Rock Hill
Rock Hill is a private equity fund that seeks to make equity investments in small to middle-market companies, defined as businesses with an enterprise value of less than $75 million located primarily in the Southern United States. Rock Hill intends to partner with strong entrepreneurial managers who are in need of patient capital and management expertise to assist them in the continued expansion and growth of their business. Rock Hill's team of investment professionals is uniquely qualified to assist management at various stages of the growth cycle in achieving their strategic goals and objectives.
GulfStar Group is a leading middle market investment and merchant bank headquartered in Houston, TX, with a strong market presence in Austin, Dallas, Louisiana and Oklahoma. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, restructuring and turnaround advisory services and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed over 550 transactions in more than 30 states and seven foreign countries across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments.
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Securities offered through GulfStar Group I, an affiliated entity, member FINRA – SIPC.