Ace Gathering Holdings LLC, a Rock Hill Capital portfolio company, said March 6 that it closed its buy of Recoil Energy Systems LLC. Financial terms weren’t announced. Recoil, of Abilene, Texas, provides oil reclamation services including tank cleaning, oil recovery, oilfield waste fluid handling and disposal services throughout the Permian Basin for salt water disposal wells, crude oil production tanks and pipelines.
HOUSTON–(BUSINESS WIRE)–Ace Gathering Holdings, LLC (“Ace” and “Ace Gathering”) today announced that it has completed its acquisition of Recoil Energy Systems, LLC (“Recoil”), a provider of crude oil reclamation services.
Recoil, founded in 2014 and headquartered in Abilene, Texas, is a leading provider of oil reclamation services including tank cleaning, oil recovery, oilfield waste fluid handling and disposal services throughout the Permian Basin for salt water disposal wells, crude oil production tanks and pipelines. Additional information on Recoil’s offerings can be found at www.recoilenergy.com.
“We are very excited about the opportunity to join the Ace team and look forward to supporting the company’s rapid growth throughout Texas and surrounding states. Recoil’s broad service coverage in the Permian Basin alongside Ace Gathering’s rapidly growing gathering system creates an unmatched offering in the region,” said Abe Templeton, founder and General Manager of Recoil.
“The management team at Ace is excited to team up with a leading reclamation provider in the Permian Basin. Recoil’s reclamation facility located southeast of Midland immediately expands our footprint alongside our newly launched reclamation facility located on the southwest side of Odessa. The combination allows us to capitalize on immediate opportunities and continue our rapid expansion,” said Mike Clinard, Chairman and CEO of Ace. Cody Schluens, President and COO of Ace, added, “We are thrilled about our partnership with Recoil and what this means for the future of the company as we expand our capabilities to service existing and prospective customers in new areas.”
About Ace Gathering
Ace Gathering (www.acegathering.com), founded in 2014 and headquartered in Katy, Texas, provides gathering and reclamation services through two separate wholly-owned subsidiaries, Ace Gathering, Inc. and The Maker’s Oil Corporation (“Maker’s”). Ace Gathering offers crude oil gathering services as well as crude oil marketing services for customers ranging from small, independent producers to large majors. In May 2016, Ace acquired Maker’s, a crude reclamation and tank cleaning business with over two decades of operating history. Maker’s offers oilfield waste cleanup and waste oil removal services for salt water disposal wells, crude oil production tanks, pipelines, and marine barges. The combined companies have over 100 employees with locations in Corpus Christi, Giddings, Swinney Switch, Odessa, and Katy, Texas. Ace Gathering recently partnered with financial sponsor Rock Hill Capital in December 2017.
About Rock Hill Capital
Rock Hill Capital, founded in 2007 and headquartered in Houston, Texas, is a private equity firm that invests in small-to-lower middle market companies located in the South and Southeast U.S. Rock Hill is currently investing out of its third committed capital fund totaling $150MM focusing on companies in the industrial products and services industries. Take a deeper look at Rock Hill Capital and what makes our investments so successful by visiting www.rockhillcap.com.