- Iron Horse Tools was founded in 2008
- PPHB, LP acted as financial advisor to Bluehenge
- Pelican Energy Partners targets energy service and equipment companies
Pelican Energy Partners has acquired Corpus Christi, Texas-based Iron Horse Tools, a provider of equipment and services for the oil and gas industry. The seller was Bluehenge Capital Partners. No financial terms were disclosed.
Iron Horse Tools was founded in 2008.
On the deal, Pelican Managing Partner Mike Scott said in a statement, “Pelican has been familiar with the Iron Horse business for many years and is excited to get the opportunity to partner with the Iron Horse team. We expect IHT to continue to build upon their already impressive market share with market leading MPD technology and unmatched service across the US.”
Reed Smith LLP acted as legal counsel to Pelican Energy Partners, and Armbrust & Brown, PLLC served as legal counsel to Bluehenge. PPHB, LP acted as financial advisor to Bluehenge.
Baton Rouge, Louisiana-based Bluehenge invests in the lower middle market.
Based in Houston, Pelican Energy Partners targets energy service and equipment companies.