Business Description: ROC Service Company, LLC is a newly formed energy services company providing construction, roustabout and production services to oil and gas producers in the Barnett, Marcellus and Fayetteville Shale regions.
Turnbridge Capital, LLC is a private equity investment firm that focuses on energy investments primarily in the southwest region of the U.S. Typical transaction size ranges from $50 million to $250 million.
Challenge: Nighthawk purchased Richey Oilfield Construction (ROC) in 2007, but filed for Chapter 7 bankruptcy protection in 2009. The ROC management team desired to purchase assets from the estate and restart a new company, ROC Service Company. However, they lacked the capital to do so.
Solution: The Wilcox Group introduced ROC management to Turnbridge Capital, which committed the capital to consummate the buyout. Now ROC Service Company is well capitalized and focused on growth.
Transaction Demonstrates: Ability to execute a complex, distressed transaction very quickly; the deep relationships The Wilcox Group has with various institutional capital sources; and the Firm’s experience working with energy companies.
Wilcox Swartzwelder & Co. is a energy investment bank in Fort Worth / Dallas, Texas.
See press release.