Extreme Plastics Plus and Mustang Energy Services Announce Merger to Form Market Leader in Environmental Containment Solutions
Two Competitors Come Together to Expand Offerings and Improve
Services for Energy Clients Across Eight States
Today, Extreme Plastics Plus (EPP) and Mustang Energy Services (Mustang)
announced a merger to create one of the country’s largest environmental
containment services companies. With a presence in most of the major
domestic oil and natural gas basins in the country, the combined company
will serve exploration and production operators across Texas, New
Mexico, Oklahoma, Pennsylvania, West Virginia, Ohio, Colorado and
Wyoming.
To facilitate the merger, an affiliate of Blue Wolf Capital Partners LLC
(Blue Wolf), a New York-based private equity firm and majority investor
in EPP, has acquired a majority interest in Mustang. In conjunction with
the transaction, Todd and Whitney Creel, the founders of Mustang, have
retained a significant interest in the combined company.
“We are excited to become a part of the Blue Wolf family and, in turn,
join forces with EPP,” said Todd Creel, Founder, President and CEO of
Mustang. “This new partnership – between two great companies –
creates an industry leader with best-in-class technology and processes,
and a highly talented and experienced team.”
Together, EPP and Mustang will provide a variety of containment
services, including environmental liner systems and installations, above
ground storage tanks, composite mats, secondary containment systems and
floating covers. Each company will leverage the other’s relationships
within the market and geographic footprint to cross-sell products and
services.
“We are thrilled to merge with Mustang to create the country’s most
formidable environmental containment solutions business,” said Wade
Holt, President of EPP. “The combined company will have significant
scale as well as a diversified suite of products and services to offer
our customers across the U.S.”
“Considering the combined scale, broad geographic footprint and
complementary service lines, the merger of EPP and Mustang is
strategically sound,” said Jay Minmier, Chief Executive Officer of EPP.
“While both companies have tremendous growth opportunities on a
standalone basis, the combined organization has even more potential.”
Blue Wolf recently appointed Mr. Minmier as CEO of EPP and he will serve
as CEO of the combined company. Mr. Minmier most recently served as
President of Nomac Drilling from 2011 through 2017, when Nomac’s parent
company, Seventy Seven Energy, was acquired by Patterson-UTI. He brings
over 25 years of oilfield services experience and a vast network of
industry contacts that will benefit the combined company.
“The strategic combination of EPP and Mustang creates an unrivaled
environmental containment business with the capabilities to service the
most active E&P operators across the country,” said Aakash Patel,
Principal at Blue Wolf. “With Jay Minmier as CEO and with the
exceptional leadership teams of EPP and Mustang at the helm, the
combined business is extremely well-positioned for long-term success.”
About Extreme Plastics Plus
Founded in 2007, Extreme Plastics Plus is an environmental containment
company that specializes in providing environmental lining, above ground
storage tanks, composite mats, secondary containment systems, and
drilling support services. Our history, reliability, and quality of
service are just as strong as the plastic we lay. We work meticulously
on every project and with every client. Extreme Plastics Plus has
installed over 300 million square feet of geosynthetic liner. For
additional information, please visit www.extremeplasticsplus.com.
About Mustang Energy Services
Mustang Energy Services, Inc. was founded in March 2011 by Todd &
Whitney Creel and Todd’s father, Rickey Creel. Their goal when starting
the company was to be the best lining and containment solutions company
in the industry. Todd and Whitney have positioned Mustang as the leading
containment solutions company in the Southern US Basins by adding a full
staff of senior management that have 20+ years of geosynthetic
experience. Mustang has revolutionized the energy industry through the
use of best practices, customer service and unparalleled quality. In
2017, Mustang was the largest purchaser and installer of Conductive
membrane globally along with being one of the largest private purchasers
of geosynthetics across all industries. For additional information,
please visit www.mustangenergyservices.com.
About Blue Wolf Capital Partners
Blue Wolf Capital Partners LLC is a private equity firm that specializes
in control investments in middle market companies. Leading by
experience, and with a commitment to excellence, Blue Wolf transforms
companies strategically, operationally and collaboratively. Blue Wolf
manages challenging situations and complex relationships between
business, customers, employees, unions, and regulators to build value
for stakeholders. For additional information, please visit www.bluewolfcapital.com.
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