Renegade Holding Company Has Refinanced Its Existing Credit Facilities

HOUSTON, May 16, 2018 — GulfStar Group (“GulfStar”) is pleased to announce that Renegade Holding Company, LLC (dba Renegade Well Services and Renegade Automation, collectively “Renegade” or the “Company”) has refinanced its existing subordinated and senior debt facilities with a new senior credit facility from Woodforest National Bank (“Woodforest”). GulfStar served as the exclusive financial advisor to Renegade throughout the transaction, which closed on April 17, 2018.

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 the nation’s most established oil and natural gas fields including the Eagle Ford, Permian, Barnett, Bakken, DJ, Utica, and Mid-Continent basins. Renegade provides essential above-ground maintenance services for oil and natural gas well-sites, 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, Odessa, and San Angelo, Texas as well as Canton, Ohio, and Hobbs, New Mexico.

“We greatly appreciate GulfStar’s efforts in this difficult oilfield lending environment to assist Renegade in securing a financial partner and a structure that will enable us to further expand our footprint and continue to grow our business,” said Jacob Percifull, CEO of Renegade. “GulfStar has been a true partner to Renegade, successfully executing both this transaction and our 2014 majority recapitalization with Corinthian Capital.”

Headquartered in The Woodlands, Texas, Woodforest is a privately held bank that currently operates over 700 branches in 17 states across the United States. Proudly offering outstanding quality customer service since 1980, Woodforest has successfully stood among the strongest community banks in the nation for more than 37 years.

“We are pleased to have had this opportunity to work with the Renegade and Corinthian teams for a second time on this important transaction,” said Brian Lobo, Managing Director at GulfStar. “Woodforest invests in their clients’ success, and this new partnership combined with Renegade’s continued alliance with Corinthian, significantly lowers the Company’s cost of capital, leaving it well-positioned to execute its future growth initiatives.”

The GulfStar team consisted of Managing Directors Brian Lobo and Tom Hargrove along with Associate Alex Pette and Analyst David Lutito.

About GulfStar Group
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 more than 670 transactions in 34 states and 16 foreign countries across a variety of industries.