Renegade Investments Has Completed a Majority Recapitalization with Corinthian Capital Group
HOUSTON, April 28, 2014 - GulfStar Group ("GulfStar") is pleased to announce the majority recapitalization of Renegade Investments, LP (dba Renegade Well Services and Renegade Automation; collectively referred to herein as “Renegade” or the “Company”) by Corinthian Capital Group, LLC (“Corinthian”). GulfStar served as exclusive financial advisor to Renegade throughout the transaction which closed on April 22, 2014.
Renegade is a leading provider of recurring wellhead production and infrastructure services, operations and maintenance employment services, and automation services to blue-chip oil and natural gas producers. The Company operates in some of the nation's most established and prolific oil and natural gas fields including the Permian Basin, Eagle Ford, Barnett, and Utica shale regions. Renegade provides essential above-ground maintenance services for oil and natural gas wellsites, as well as the associated production gathering facilities and pipeline infrastructure. The Company was founded in 2006 and is headquartered in Granbury, Texas, with additional field operations in Dilley, Godley, Decatur, Stockdale, Odessa, Carrizo Springs and San Angelo, Texas, as well as Canton, Ohio. The Company will continue to be led by its current management team.
"The Renegade team is excited to enter into a strategic partnership with Corinthian. Corinthian's experience and resources will be a tremendous asset in the future growth and direction of Renegade," said Renegade CEO Jacob Percifull. "We want to thank the GulfStar team for their thoughtful and experienced guidance throughout the process."
The GulfStar team included Managing Directors Tom Hargrove and Cliff Atherton, Senior Vice President Brian Lobo, Associate Tim Wilkening, and Analysts Caroline Incavo and Trevor Rinker. "We are pleased to have had the opportunity to work with the Renegade team on this important transaction," said Hargrove. "The Company has grown rapidly since its founding in 2006. With Corinthian's investment and expertise, we expect the Company's growth trajectory to further increase."
About Corinthian Capital Group, LLC
Corinthian Capital is a private equity firm investing in niche manufacturing, distribution, and service businesses with EBITDA between $5 million and $30 million, located primarily in North America. Corinthian Capital is based in New York, NY with offices located in Chicago, IL and Boston, MA.
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, 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 approximately 600 transactions in more than 30 states and 10 foreign countries across a variety of industries.
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Securities offered through GulfStar Group I, Ltd. an affiliated entity, member FINRA – SIPC.