Business Description: C&J Energy Services, Inc. is a leading provider of hydraulic fracturing, coiled tubing and pressure pumping services to oil and gas producers primarily in the South Texas and East Texas/North Louisiana regions, including the highly active Eagle Ford Shale, Haynesville Shale and Deep Bossier plays, and Western Oklahoma.
C&J is backed by Energy Spectrum Capital and Citi Private Equity funds.
Challenge: C&J desired to refinance its existing senior and junior credit facilities and required additional debt availability and an expanded capital base to support its significant growth opportunities. Further, the Board was also pushing a very agressive timetable to complete a transaction.
Solution: The Wilcox Group quickly created the marketing materials and ran a very targeted process to identify interested senior and junior lenders and negotiate favorable terms. In 45 days after engagement, C&J closed on both an expanded senior credit facility and new second lien term debt.
Transaction Demonstrates: Ability to quickly execute a complex transaction balancing the demands of the Company with multiple institutional parties and intercreditor issues; knowledge of the energy industry; and experience working with energy services companies and energy focused institutional lenders and investors.
Wilcox Swartzwelder & Co. provides energy investment banking in Corpus Christi, Texas.
See press release.