OKLAHOMA CITY, OK (March 20, 2019) DH Pump & Supply, LLC (DH), a Weatherford, TX-based company that manufactures and repairs consumable pump parts for the hydraulic fracturing industry, has merged with Standard Industrial Manufacturing Partners, LLC (Standard), a portfolio company of Hicks Equity Partners (Hicks), a Dallas, TX-based private equity firm. The transaction closed on February 28, 2019 and financial terms were not disclosed. Infinity Capital Partners served as exclusive investment banking advisor to DH Pump & Supply.
Since inception in 2013, DH swiftly emerged as one of the prominent providers of pump-related services and components – including plungers, pony rods, and internal pump expendables – all of which are vital to hydraulic fracturing operations for both new and recompleted wells in the oil and gas industry.
“Having recently experienced an acquisition of our own, we recognize the power and opportunity in combing forces with the right partner,” said Jeff Isbell, Managing Partner of DH. “We feel this is especially true regarding Standard, which has earned its name serving as the industry benchmark after delivering quality product and service for almost half a century.”
“We were grateful to be asked to advise the DH team throughout this process,” said Bryan Vahlberg, Managing Partner of Infinity and lead advisor to DH. “They’ve worked fast and furious for several years to solidify their position as a premier supplier of fluid end expendables. Joining forces with the collective experience and expertise of Hicks and Standard will make for an exciting growth trend to watch.”
Standard Industrial Manufacturing Partners has provided specialty manufacturing and services to the oil and gas and industrial market segments since its inception in 1979. In addition to internal pump expendables, Standard has broadened its product lines over the years and looks to build on this trend through the collective capabilities and expertise represented by the combination of companies through this strategic merger.
“This merger made a lot of business sense from our perspective,” said Barry Beadle, President and CEO of Standard. “Over the past several years, our team developed a profound admiration and respect for DH’s dedication to both quality and customer service throughout its geographic footprint. It only made sense to combine these two reputable names to solidify our position as a leader in the fluid end and power end expendables industry.”
Curt Crofford, Managing Director at Hicks Equity Partners said of the transaction, “We’re excited to bring the DH team under the Standard flag, as we see this combination as a valuable step in our strategic growth plan. By merging the businesses, we are able to maintain existing customer relationships while further enhancing Standard’s reputation for providing quality fluid end expendables throughout the country.” Hicks Equity Partners acquired Standard from its original founder in July 2016.
About Standard Industrial Manufacturing Partners
Founded in 1979, Standard Industrial Manufacturing Partners LLC manufactures and distributes replacement parts for pumps used in production and completion applications within the oil and gas industry. Standard maintains a wide selection of inventory for a diverse range of recent and not-so-recent pumps, employs pump experts to serve its industry-leading customers and is available to its customers over nights and weekends as well as during normal business hours. Standard is led by Barry Beadle, the founder and former CEO of Total Equipment and Service. For more information on Standard, please visit www.standardpumpparts.com.
About Hicks Equity Partners
Hicks Equity Partners is the private equity arm of Hicks Holdings LLC, a holding company for the Thomas O. Hicks family’s assets. With over 40 years of private equity experience, Mr. Hicks pioneered the “buy and build” strategy of investing and founded Hicks Muse Tate & Furst, which raised more than $12 billion of private equity across six funds and completed over $50 billion of leveraged acquisitions. HEP looks for established companies with proven track records, strong free cash flow characteristics, a strong competitive industry position and an experienced management team looking to partner with long-term capital.
About Infinity Capital Partners
Infinity Capital Partners is an Oklahoma City-based middle-market investment bank offering a broad range of advisory services to private companies and financial sponsors across a variety of industries. Infinity works closely with owner-operators, shareholders, founders, and management teams of private companies to provide tailored services including M&A advisory, debt and equity placements, recapitalizations, and strategic advisory. For more information about Infinity Capital Partners, including a list of current projects, please visit our website at www.infinitycapitalpartners.com. Securities placed through Infinity Capital Securities, LLC. Member FINRA.
Infinity Capital Partners