Lafayette, La. —Black Cliffs Partners announced the acquisition of a majority interest in Pine Island Chemical Solutions (“Pine Island” or “the Company”). Headquartered in Louisiana, with locations throughout Louisiana and Texas, the Company provides chemicals to the oil & gas industry. Black Cliffs Partners has partnered with the Company’s existing senior management team to recapitalize the business and to provide additional capital to support add-on acquisitions and organic geographic expansion. The existing management team will maintain a significant minority ownership position in the Company going forward. Terms of the transaction were not disclosed. Colliers International represented the seller, Pine Island.
Managing Director Michael Lunt at Black Cliffs Partners, commented, “we are beyond thrilled to be partnering with Pine Island’s talented and experienced management team. John Michael Chachere is a dynamic leader, with deep industry roots and a true love for the Company and its employees. Together, we will take the Company to new heights.”
“This is a brilliant combination, and we were pleased to assist in the transaction,” said Ken Miller, vice president, mergers and acquisitions for Colliers. “This sets the stage for a bigger platform growth in Louisiana, the Permian Basin and most energy producing regions of the United States.” Miller is also the sole owner of the BlackRose Group.
About Pine Island Chemical Solutions
The Company is a privately owned and operated oilfield service company specializing in the production of treating chemicals, water treatment chemicals and completion chemicals. The Company has provided the energy industry with quality products and superior technical expertise for over 15 years, providing custom products to meet all customer's needs. The Company has a variety of customers including E&P companies, service companies and water midstream operators. The Company has four established geo-markets including the Gulf Coast, AK-LA-TX, the Eagle Ford Shale and Permian Basin.
About Black Cliffs Partners
Black Cliffs Partners is a family office headquartered in Salt Lake City, which acquires and partners with successful companies to promote successful and sustainable growth. Black Cliffs Partners supports the goals of businesses by providing capital, operational expertise or by creating a liquidity event and transition. Black Cliffs’ team has experience as investors and entrepreneurs and looks to have hands-on collaborative relationships with executive teams and owners.
About BlackRose Group
The BlackRose Group leverages our extensive buy side network to market companies in strict confidence to qualified buyers. They are able to execute such sell side campaigns anonymously to identify interested buyers with committed capital. The BlackRose Group is headquartered in Lafayette, La. with offices in Memphis. Tenn., Raleigh-Durham, N.C., Philadelphia, Pa, Houston and Dallas, Texas.
For more information go to blackrosegrp.com.
