The Western Company of Texas Has Been Acquired by Select Energy Services
HOUSTON, July 11, 2011 — GulfStar Group (“GulfStar”) is pleased to announce the sale of The Western Company of Texas Inc. and related entities (“Western” or the “Company”) to Select Energy Services LLC. GulfStar Group served as exclusive financial advisor to Western throughout the transaction, which closed on July 1, 2011.
Western, headquartered in Fort Worth, Texas, is a leading provider of high-capacity overland water transfer services to the domestic oil and gas exploration and production industry. The Company operates principally in the Bakken, Barnett, Eagle Ford, Granite Wash and Haynesville shale plays. Western was founded in 2001 by Dale and Linda Behan and has grown to become one of the largest water transfer companies in the oil and gas industry.
The GulfStar transaction team was led by Managing Director Alan Blackburn and Vice President Justin Moers. Mr. Blackburn said, "The partnership of Western and Select is expected to be very successful. Western has an established position in numerous shale plays, especially the Bakken Shale, which will complement Select’s existing footprint in North America. The combination of the two companies will allow Select to broaden its range of services to new and existing customers and to further strengthen its industry leading position as a provider of water solutions to the oil and gas exploration and production industry.”
About Select Energy Services
Select Energy Services is a premier oil and gas service company, with a focus on being a solutions provider for its customers. Select offers an array of services and supplies, providing wellsite solutions to oil and gas producers in Texas, Oklahoma, Arkansas, Louisiana, Colorado, Pennsylvania and West Virginia. Select's companies offer wellsite rentals and accommodations, water management operations, pipeline construction, rig logistics, heavy haul services and wellsite construction.
GulfStar Group is a leading middle market investment and merchant bank headquartered in Houston, Texas, that 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 more than 475 assignments across a variety of industries. Through its merchant banking affiliate the firm also makes equity and subordinated debt co-investments.
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