Advanced Pipeline Services Acquisition01-Oct-2011
Hastings Equity Partners announced today that Hastings Equity Fund II has acquired a controlling interest in Advanced Pipeline Services. Advanced Pipeline Services constructs and maintains infield pipeline and field processing infrastructures for oil and gas exploration and production companies and the natural gas transportation companies in the Eagle Ford shale play.
Headquartered in Sinton, Texas, Advanced Pipeline Services was founded by Chester Bosworth, Jeff Jessop, Todd Marti, and Dean Smith. Since the company’s establishment, Advanced Pipeline Services has become one of the leading service providers in south Texas through its commitment to quality and safety.
Hastings has provided the capital and operational support to help Advanced Pipeline Services fully capitalize on dramatically increasing pipeline infrastructure needs in the Eagle Ford shale.
“The management team of Advanced Pipeline Services has built a reputable business in the heart of the robust Eagle Ford shale. We look forward to working with the management team to help them take advantage of the activity in that area and grow the business,” says Bruce MacRae, Managing Director at Hastings Equity Partners.
Amegy Bank provided financing for the transaction, but the financial terms of the transaction were not disclosed.
About Hastings Equity
Hastings Equity Partners is a private equity firm focused on investing in lower, middle-market businesses in the energy sector. Hastings’ approach is to leverage the extensive operational experience of the firm's managers and investors, many of whom are active or former CEOs of Fortune 1000 companies. In addition, due to the firm's expanding portfolio of oilfield services companies, it is able to share best practices, technology trends and contacts across its platform to ensure that all of its investments benefit. Hastings strives to help companies create sustained value for their employees, customers, and investment partners.