Ranch Creek Partners LLC and Hillstar Capital have made an undisclosed investment in OneCor Services LLC. Based in Williston, North Dakota, OneCor is a provider of environmental services and acid blending for the oil and gas industry in the Bakken Shale.
SEATTLE, Sept. 6, 2017 /PRNewswire/ — Ranch Creek Partners, LLC, in partnership with Dallas-based Hillstar Capital, today announced an equity investment in Williston, North Dakota-based OneCor Services, LLC, a provider of environmental services (Jerry’s Services) and acid blending to the oil and gas industry in the Bakken Shale. Additionally, True West Capital Partners provided both debt and equity capital for the investment in OneCor. The investments enable OneCor to accelerate growth while continuing to provide the same outstanding customer service. OneCor will continue to be led by long-serving CEO, Ricky Waitman, and General Manager, Tom Bachmeier.
“OneCor and Jerry’s Services are trusted names in the Bakken oil and gas industry,” said J.D. Kritser, founder and managing partner of Ranch Creek and Chairman of the Board of OneCor. “This investment allows us to grow the business to keep pace with our customers and fulfill management’s vision to expand geographically and augment our portfolio of other services to our customers.”
OneCor Services is the largest provider of acid blending and logistics services in North Dakota, focusing on providing exceptional customer service and reliable, high quality product on a 24/7 basis. Jerry’s Services, a subsidiary of OneCor Services, helps its customers comply with state and federal environmental regulations as the largest provider of weed control and environmental services in the region.
“The current executive team has provided outstanding leadership and will continue to offer a wealth of experience, while our capital will enable OneCor to accelerate growth and expand into new markets,” said Adam Stern, partner of Hillstar Capital.
“For over 40 years, we have strived to always put the customer first and deliver world-class service quality at a fair price,” said Waitman. “This expansion solidifies our commitment to producers and service companies here in the Bakken to help them meet America’s growing energy needs.”
About Ranch Creek Partners
Based in Seattle, Ranch Creek Partners is private equity investment firm targeting control positions in middle market companies. Ranch Creek takes a long-term approach to value creation and seeks superior financial results by partnering with founders, world class managers and industry leaders to grow portfolio companies over time, whether organically, through acquisitions or a combination of both. www.ranchcreekllc.com.
About Hillstar Capital
Hillstar Capital is a Dallas-based investment firm focused on lower middle market companies and partnering with owners and management teams to accelerate growth through both organic and acquisition opportunities. Hillstar supports our companies with capital, strong financial and operational expertise, and a growing network of resources. Hillstar has made an aggregate investment value in excess of $1 billion with over 40 years of combined experience. www.hillstarcapital.com.
About True West Capital Partners
True West Capital Partners is a West Coast-based investment firm that provides flexible and creative growth capital to middle-market companies in the Western U.S. True West Capital Partners typically makes investments from $5 to $25 million in businesses with proven management teams, strong barriers to entry, sustainable competitive advantages, and high free cash flows. www.truewestcp.com.
About OneCor Services, LLC
Operating for over 40 years, OneCor Services is the market leader in environmental services and acid blending in North Dakota. Operating as Jerry’s Services, OneCor is the market leader in selective and bare ground weed control services, as well as environmental remediation services in North Dakota. OneCor is also the premier provider of blended acid for the completion, stimulation and workover of oil and gas wells in the Bakken Shale. www.jerrysservices.com.