Lariat Partners Announces Closing of Deal for the Creation of the Gulf’s
First Integrated Environmental Cleaning and Disposal Company
DENVER -- March 18, 2014
Denver-based private equity firm Lariat Partners, LP, announced today that the
previously announced $100 million acquisition of Newpark Environmental
Services, LLC (NES), currently a division of Newpark Resources, Inc. (NYSE:
NR), based in The Woodlands, TX, and simultaneous merger with Offshore
Cleaning Systems, LLC (OCS), a leader in the offshore oil and gas specialty
cleaning industry, is now complete. The combined NES and OCS entities will be
rebranded ecoserv, LLC going forward.
The completed deal positions ecoserv, LLC as the Gulf of Mexico’s leader in
offshore cleaning services and offshore waste disposal.
Lariat managing partner Kevin Mitchell said, “The negotiations for the merger
went smoothly and ecoserv is now the only integrated, turnkey environmental
cleaning and waste disposal services provider in the region. Lariat’s strategy
with all of its investments is to enhance value for our customers and the
formation of ecoserv accomplishes that in every way. We have helped create a
truly best-in-class company.”
About Lariat Partners
Founded in January 2013 by Jay Coughlon and Kevin Mitchell, Denver-based
Lariat Partners is a private equity firm focused on redefining the private
equity experience with entrepreneurs in the lower-middle market. With its
People First, Strategy Second relationship philosophy and its CORE Investment
Strategy targeting COnsolidations, COnsumables and REcurring REvenue
businesses, Lariat offers a differentiated approach to partnering with
entrepreneurs and growing their businesses. The firm targets companies across
a number of industries, including Specialty Agriculture and Energy &
Environmental Services. For more information, visit www.lariatpartners.net.
Brand Iron for Lariat Partners
Lisa Metzger, 720-771-4238
Press spacebar to pause and continue. Press esc to stop.