Hastings Equity Partners announced today that Hastings Equity Fund II has acquired a controlling interest in Artexoma Logistics. Artexoma Logistics provides fluid management services to oil and gas production companies throughout the Fayetteville & Marcellus shale plays as well as the Anadarko basin.
Founded in 2007 by Michael Clayton, Artexoma Logistics is headquartered in Searcy, Arkansas. In conjunction with Hastings’ investment, Gregory O’Briant will join the management team as the Chief Operations Officer (COO). Michael Clayton will remain the CEO at Artexoma and join the board of directors.
“Artexoma has demonstrated impressive growth recently making it one of the premier service providers in the Fayetteville Shale,” said Hastings Managing Director Ted Patton. “The efforts to expand into Pennsylvania and Western Oklahoma are just getting started and we are excited about the continued growth prospects of the Company.”
Regions 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.