Financial Advisor
Cactus Fuel, LLC
M&A Advisory
A Portfolio Company Of
Has Been Acquired By
Transaction Details
- On March 18, 2019, Pilot Thomas Logistics LLC (“PTL”) successfully completed the strategic acquisition and integration of the assets of Cactus Fuel, LLC’s (“Cactus” or the “Company”) fuel, lubricants, chemicals and petroleum services located in the Permian Basin
- Headquartered in Midland, TX, Cactus is a supplier of bulk fuel, lubricants and onsite fuel storage systems
- With the acquisition, PTL expands and enhances its existing operational presence in the Permian Basin and across the entire West Texas and New Mexico areas
- PTL will maintain Cactus’ existing Midland Terminal as it strategically complements PTL’s existing footprint of facilities throughout the Permian Basin
- Stephens Inc. acted as exclusive financial advisor to Hastings Equity Partners and Cactus in the transaction
About the company
Cactus Fuel
Based in Midland, Texas, Cactus is a value-added distributor of fuel and lubricants to upstream and midstream customers throughout the Permian Basin. Founded in 2012, Cactus is recognized as a market leader in the most active shale play in the United States and utilizes advanced technology to ensure best-in-class service for all its customers. For more information, visit www.cactusfuels.com
Pilot Thomas Logistics
Pilot Thomas Logistics is the premier provider of fuel, lubricants and chemicals to the Energy, Marine, Mining and Industrial markets and is headquartered in Fort Worth, Texas. PTL operates in over thirty (30) states from 100+ terminals with a Team over approximately 2,000 professionals. For more information, visit www.pilotthomas.com
Hastings Equity Partners
Hastings Equity Partners is a private equity firm focused on investing in lower, middle-market energy and industrial service businesses. Hasting’s approach is to leverage the extensive operational experience of the firm’s managers and investors, many of whom are active or former CEOs of Fortune 1000 companies. In addition, due to the firm’s expanding portfolio of industrial services companies, it is able to share best practices, technology trends and contacts across its platform to ensure that all of its investments benefit. Hastings strives to help its portfolio companies create sustained value for their employees, customers and investment partners. For more information, visit www.hastingsequity.com
Sources: PTL press release, Hastings Equity Partners press release and Cactus website.
-
This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.