Gibson Energy Closes $445 mln Buy of OMNI Energy from Wellspring


Gibson Energy has closed its buy of OMNI Energy Services Corp. in a deal valued at $445 million. Wellspring Capital Management was the seller. Carencro, La.-based OMNI provides environmental and production services to the oil and gas industry. BlackArch Partners advised OMNI.

PRESS RELEASE
BlackArch Partners is pleased to announce the closing of the sale of OMNI Energy Services Corp. to Canadian midstream energy leader Gibson Energy Inc. (TSX: GEI).
Headquartered in Louisiana, OMNI is a leading provider of environmental and wellsite maintenance services to exploration and production companies throughout North America.  OMNI’s market leadership stems from a focus on a production-oriented and bundled service offering and geographic diversity across nearly every liquids-rich region, including the Bakken, Anadarko, Eagle Ford and the Gulf of Mexico.  OMNI is a portfolio company of Wellspring Capital Management.
Gibson announced the value of the transaction, which closed Wednesday, at $445 million.  The Calgary-based company said the OMNI acquisition is part of a strategy to expand its integrated asset base and offer synergistic services to customers.
“We are witnessing first hand, industry trends including increasing water-based horizontal well fracs, higher residual water production and increased environmental and regulatory scrutiny and we are extremely excited about the opportunities the OMNI acquisition affords in light of these trends,” Gibson President and CEO Stewart Hanlon said.
BlackArch Partners was retained by OMNI to serve as its sellside adviser on the transaction.
OMNI Energy Services Corp. (www.omnienergy.com), based in Carencro, La., provides environmental and production services to the oil and gas industry, organized around four primary business segments:  Environmental Services and Fluid Handling, Wellsite Maintenance Services, Exploration Support Services and Accommodations.  The company’s core businesses are focused on the complex and non-discretionary environmental compliance and maintenance needs of exploration and production companies.

Wellspring Capital Management (www.wellspringcapital.com), founded in 1995, is a leading middle-market private equity firm that manages more than $3 billion of private equity capital. Wellspring is based in New York.
Gibson Energy Inc. (www.gibsons.com) is one of the largest independent midstream energy companies in Canada and a major participant in the crude oil transportation business in the United States, and is engaged in the movement, storage, blending, processing, marketing and distribution of crude oil, condensate, natural gas liquids and refined products.  Gibson transports hydrocarbons by utilizing its integrated network of terminals, pipelines, storage tanks and truck fleet located throughout western Canada and the United States.  Gibson is also involved in the processing, blending and marketing of hydrocarbons, provision of water disposal and oilfield waste management services and is the second-largest retail propane distribution company in Canada.

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