M&A Deal Summary

Argonaut Private Equity Acquires Chemoil Energy Services

On November 15, 2023, private equity firm Argonaut Private Equity acquired energy services and equipment company Chemoil Energy Services from Glencore

Acquisition Highlights
  • This is Argonaut Private Equity’s 7th transaction in the Energy Services and Equipment sector.
  • This is Argonaut Private Equity’s 33rd transaction in the United States.
  • This is Argonaut Private Equity’s 9th transaction in Oklahoma.

M&A Deal Summary

Date 2023-11-15
Target Chemoil Energy Services
Sector Energy Services and Equipment
Buyer(s) Argonaut Private Equity
Sellers(s) Glencore
Deal Type Divestiture

Target

Chemoil Energy Services

Oklahoma City, Oklahoma, United States
Chemoil Energy Services is a distributor of diesel fuel and lubricants for US onshore frac and drilling applications. Additionally, Chemoil provides a market-leading proprietary automated fueling system, as well as mobile maintenance and cleaning services to the fracking equipment market. Chemoil Energy Services was founded in 2011 and is based in Oklahoma City, Oklahoma.

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Buyer(S) 1

Buyer

Argonaut Private Equity

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Argonaut Private Equity is a private equity firm focused on control investments in entrepreneur and family-owned businesses headquartered in the middle region of the US. The Firm seeks industrial oriented manufacturing, distribution, and service companies with revenue between $20 and $300 million and EBITDA between $5 and $50 million. Argonaut typically commits $15 to $100 million per transaction to support buy-outs, distressed and special situations, growth needs, and divestitures. Argonaut Private Equity was founded in 2002 and is based in Tulsa, Oklahoma.


DEAL STATS #
Overall 33 of 38
Sector: Energy Services and Equipment M&A 7 of 7
Type: Divestiture M&A Deals 3 of 3
State: Oklahoma M&A 9 of 11
Country: United States M&A 33 of 38
Year: 2023 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-09 Center Rock

Berlin, Pennsylvania, United States

Center Rock is an integrated drilling solutions company that manufactures a complete line of pneumatically-driven downhole drilling products (bits & hammers), distributes capital equipment in the form of high-pressure air and booster compressors that power its manufactured drilling components, and offers 24/7 support services. Center Rock was founded in 1998 and is based in Berlin, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-13 Legacy Building Solutions

South Haven, Minnesota, United States

Legacy Building Solutions specializes in manufacturing and erecting tension fabric buildings using a patented attachment system for integrating fabric cladding with a steel frame. Legacy Building Solutions is based in South Haven, Minnesota.

Buy -

Seller(S) 1

SELLER

Glencore

Baar, Switzerland

Category Company
Founded 1974
Sector Metals/Mining
Employees84,146
Revenue 230.9B USD (2024)
DESCRIPTION

Glencore is a provider of physical commodities, including energy (oil and coal), base metals, soft commodities, and agriculture to industrial consumers. These commodities originate from Glencore's directly or indirectly owned production assets or are secured by Glencore from third parties. Glencore also provides financing, logistics, and other supply chain services to producers and consumers of commodities. Glencore was founded in 1974 and is based in Baar, Switzerland.


DEAL STATS #
Overall 8 of 8
Sector: Energy Services and Equipment M&A 1 of 1
Type: Divestiture M&A Deals 8 of 8
State: Oklahoma M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-07 PolyMet

Saint Paul, Minnesota, United States

PolyMet is a mine development company. PolyMet was founded in 1998 Saint Paul, Minnesota.

Buy -