Hastings Equity Partners Announces Acquisition of Select Chemicals16-Dec-2014
WadeCo Specialties, Inc. (“WadeCo”), a specialty chemical provider focused on production chemicals and services for the oil and gas industry, is pleased to announce the acquisition of Select Chemicals, Ltd. (“Select”). WadeCo is a portfolio company of Hastings Equity Partners, a private equity firm focused on investing in lower, middle-market energy services and equipment businesses.
Based in Yorktown, Texas, and acquired by current owner Stephen Blaschke in 1994, Select provides production chemicals and services to exploration and production companies throughout the Eagle Ford Shale. “Select started as a soap stick business over thirty-six years ago and now operates out of a forty thousand square foot chemical plant and facilities in the South Texas region,” said Owner & President Stephen Blaschke. “We are looking forward to working with the WadeCo team to continue that expansion.”
The acquisition of Select expands WadeCo’s footprint into the second largest basin in the US and will strengthen the company’s position as a market leading, independent oilfield chemical solutions and service provider. “We are excited about the opportunities for growth the acquisition of Select provides to WadeCo,” said Ryan Havens, President of WadeCo Specialties, Inc. “Their experienced team and geographic coverage will enhance our ability to offer customers the best in both product and service. I look forward to working with Stephen and his team to continue growing our business.”Edwards Wildman Palmer LLP served as legal counsel to the shareholders of WadeCo in the transaction.
About Hastings Equity
Hastings Equity Partners is a private equity firm focused on investing in lower, middle-market energy services and equipment businesses. 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 its portfolio companies create sustained value for their employees, customers, and investment partners.
About WadeCo Specialties , Inc.
WadeCo Specialties, Inc, headquartered in Midland, TX, is an oilfield production chemical company that formulates blends and distributes chemicals to oil and gas production companies to support drilling, completion and production activities throughout the Permian Basin.