Ace Gathering Announces Its Acquisition of Recoil Energy Systems
HOUSTON–(BUSINESS WIRE)–Ace Gathering Holdings, LLC (“Ace” and “Ace Gathering”) today announced
that it has completed its acquisition of Recoil Energy Systems, LLC
(“Recoil”), a provider of crude oil reclamation services.
Recoil, founded in 2014 and headquartered in Abilene, Texas, is a
leading provider of oil reclamation services including tank cleaning,
oil recovery, oilfield waste fluid handling and disposal services
throughout the Permian Basin for salt water disposal wells, crude oil
production tanks and pipelines. Additional information on Recoil’s
offerings can be found at www.recoilenergy.com.
“We are very excited about the opportunity to join the Ace team and look
forward to supporting the company’s rapid growth throughout Texas and
surrounding states. Recoil’s broad service coverage in the Permian Basin
alongside Ace Gathering’s rapidly growing gathering system creates an
unmatched offering in the region,” said Abe Templeton, founder and
General Manager of Recoil.
“The management team at Ace is excited to team up with a leading
reclamation provider in the Permian Basin. Recoil’s reclamation facility
located southeast of Midland immediately expands our footprint alongside
our newly launched reclamation facility located on the southwest side of
Odessa. The combination allows us to capitalize on immediate
opportunities and continue our rapid expansion,” said Mike Clinard,
Chairman and CEO of Ace. Cody Schluens, President and COO of Ace, added,
“We are thrilled about our partnership with Recoil and what this means
for the future of the company as we expand our capabilities to service
existing and prospective customers in new areas.”
About Ace Gathering
Ace Gathering (www.acegathering.com),
founded in 2014 and headquartered in Katy, Texas, provides gathering and
reclamation services through two separate wholly-owned subsidiaries, Ace
Gathering, Inc. and The Maker’s Oil Corporation (“Maker’s”). Ace
Gathering offers crude oil gathering services as well as crude oil
marketing services for customers ranging from small, independent
producers to large majors. In May 2016, Ace acquired Maker’s, a crude
reclamation and tank cleaning business with over two decades of
operating history. Maker’s offers oilfield waste cleanup and waste oil
removal services for salt water disposal wells, crude oil production
tanks, pipelines, and marine barges. The combined companies have over
100 employees with locations in Corpus Christi, Giddings, Swinney
Switch, Odessa, and Katy, Texas. Ace Gathering recently partnered with
financial sponsor Rock Hill Capital in December 2017.
About Rock Hill Capital
Rock Hill Capital, founded in 2007 and headquartered in Houston, Texas,
is a private equity firm that invests in small-to-lower middle market
companies located in the South and Southeast U.S. Rock Hill is currently
investing out of its third committed capital fund totaling $150MM
focusing on companies in the industrial products and services
industries. Take a deeper look at Rock Hill Capital and what makes our
investments so successful by visiting www.rockhillcap.com.
Contacts
Rock Hill Capital
Stacey Wells, 713.715.7516
swells@rockhillcap.com
or
Ace
Gathering
Jeffery Keith, 281.394.9975
jeffery@acegathering.com
