WadeCo Specialties Inc., a specialty chemical provider focused on production chemicals and services for the oil and gas industry, has announced that it has acquired Escudero Chemicals LLC. WadeCo is a portfolio company of Hastings Equity Partners, a private equity firm focused on investing in lower, middle-market energy services and equipment businesses.
Based in Midland, Texas, Escudero provides production chemicals and services to a diversified customer base throughout the Permian and Illinois Basins. Founded in 1989, Escudero has an excellent reputation throughout the industry. As WadeCo strives to be the leader in oilfield chemical solutions, the acquisition of Escudero enhances WadeCo's ability to provide its customers the best in both products and services.
"The acquisition of Escudero Chemicals is a major milestone for WadeCo as we continue the growth of our business," commented Ryan Havens, President of WadeCo Specialties Inc. "Escudero's deeply experienced team and geographic coverage are an excellent fit with our organisation. It's an exciting time at WadeCo as we continue to grow both organically and through acquisition when many in the energy industry are not."
Advisory services were provided by Riveron Consulting LLC and Sand River Capital Advisors LLC. Locke Lord LLP served as legal counsel to the shareholders of WadeCo during the transaction.
Edited from press release by Angharad Lock