Hastings Equity Partners Announces Appointment of Two New Board Members to Extreme Plastics Plus20-Mar-2014
Hastings Equity Partners is pleased to announce the appointment of Ambassador (Retired) Barry White and Frank Schageman to the board of directors of Extreme Plastics Plus (EPP). EPP is an upstream oilfield environmental services company focused on fluid containment and was the first investment out of the Hastings Equity Fund III.
"We are pleased to have Barry and Frank join the board of EPP to help its customers stay on top of state and Federal regulations related to fluid containment throughout the US oilfield.," said Ted Patton, Managing Director of Hastings Equity Partners. "We are confident their leadership and positive direction will be valuable additions to the already influential Extreme Plastics Plus Board."
Barry White served as United States Ambassador to Norway from 2009 to 2013. As ambassador, he emphasized the commitment of both the US and Norway to promote democracy, freedom and human rights throughout the world and worked to increase economic development opportunities for Norwegian firms in the US and for US firms in Norway.
Prior to his appointment as Ambassador, White served for over 13 years as Chairman and Managing Partner (CEO) of Foley Hoag LLP, where he was a senior partner in the firm’s business, corporate, international and government strategies practice areas. He practiced law at Foley Hoag for 40 years. Mr. White also served as Chair of Lex Mundi, the world’s largest international association of independent law firms, and co-founded the "Lex Mundi Pro Bono Foundation", to provide pro bono legal advice to social entrepreneurs around the world.
Frank Schagemen was most recently Executive Vice President & Chief Financial Officer of R360 Environmental Solutions, Inc., a $300 million revenue oilfield waste treatment, recycling and disposal business, and portfolio company of Paine + Partners and Tinicum Capital. At R360, Frank managed all financial aspects of the business including corporate development, accounting, risk management, tax, stakeholder relations and banking. R360 was sold to Waste Connections, Inc. (NYSE-WCI) in a $1.3 billion cash transaction in October 2012.
Prior to R360, Frank was Chief Financial Officer for OFS Energy Services, a portfolio company of ArcLight Capital, where he managed all financial matters for a business that doubled in size during his tenure. OFS was sold in late-2010 to Houston-based Key Energy Services (NYSE-KEG). Frank spent 16 years with Wells Fargo directing the bank’s Oilfield Services & Manufacturing segment of Wells Fargo’s Energy Banking Group and all commercial banking activities in the Houston region.
In addition to Extreme Plastics Plus, Frank also serves on the board of directors of Davis Chemical Services, a portfolio company of OFS Energy Fund.
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.