Pelican Energy Partners has made a “significant” investment in Johnson Specialty Tools. Based in Houston, Texas, JST is a provider of fluid management systems for drilling rigs.
HOUSTON, May 30, 2017 /PRNewswire/ — Pelican Energy Partners, a private equity firm focused on the oilfield services and equipment sector, is pleased to announce it has partnered with Craig Johnson and completed a significant growth equity investment in Johnson Specialty Tools, LLC (“JST”).
JST provides complete fluid management systems for drilling rigs including specialized pumps, mixing equipment, tanks, and other related equipment that contains, controls, and manages both oil and water based mud on drilling locations. The company is headquartered in Houston, TX and has locations in Pleasanton, TX and Midland, TX. JST is led by Craig and Brett Johnson, third and fourth generation oilfield service entrepreneurs. Craig Johnson was previously the founder and CEO of Stallion Oilfield Services.
With the Pelican investment, JST will be in position to expand its customer base, geographic presence, and service offerings in response to growing customer demand. Pelican’s growth equity investment will be used to fund both JST’s organic growth opportunities and for strategic acquisitions.
Craig stated, “Since its founding in 2014, JST has built a solid reputation for quality service with exceptional people and equipment. We are excited to now partner with a dedicated energy fund that will bring additional experience and deep industry knowledge to our team during this period of growth.”
About Pelican Energy Partners
Pelican Energy Partners is a Houston-based private equity fund specializing in strategic investments in small to middle-market, high-growth potential energy service and equipment companies with sustained earnings outlooks. Pelican’s Fund I investments include Capline Environmental Services, Elite Production Services, Downhole Technology, Rapid Rod Service, Flowco Production Solutions, Elite Multiphase Solutions, Multilift Welltec and P360 Management Solutions. Pelican closed its second fund in July 2016. This combined platform represents Pelican’s fourth Fund II investment in addition to Epic Industrial Solutions, Global Heat Transfer, and Quinn Artificial Lift Services.