M&A Deal Summary

One Rock Capital Partners and Barings Private Equity Acquire Petroplex

On December 18, 2012, private equity firms One Rock Capital Partners and Barings Private Equity acquired energy services and equipment company Petroplex from Venquest Capital Partners

Acquisition Highlights
  • This is One Rock Capital Partners’ 2nd and Barings Private Equity’s 1st transaction in the Energy Services and Equipment sector.
  • This is One Rock Capital Partners’ 2nd and Barings Private Equity’s 22nd transaction in the United States.
  • This is One Rock Capital Partners’ 1st and Barings Private Equity’s 1st transaction in New Mexico.

M&A Deal Summary
Date 2012-12-18
Target Petroplex
Sector Energy Services and Equipment
Buyer(s) One Rock Capital Partners
Barings Private Equity
Sellers(s) Venquest Capital Partners
Deal Type Secondary Buyout

Target

Petroplex

Lovington, New Mexico, United States
Petroplex is a provider of acid stimulation services for energy customers. It also provides proprietary calcium sulfate / paraffin dissolving chemicals such as Petrosol X-25, custom hydrochloric acid blends, anti-sludge systems, and a complete line of other oil field stimulation blends and chemicals.

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Buyer(S) 2

Buyer

One Rock Capital Partners

New York, New York, United States
Category Private Equity Firm
Founded 2010
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Rock Capital Partners is a private equity group focused on opportunities where the Firm can leverage its operational, strategic, and financial resources. One Rock seeks investments in mature, North American companies and will also consider distressed situations. Sectors of interest include chemicals, packaging, forest products, consumer appliances/electronics, electrical equipment, niche manufacturing, business services, environmental services, waste management, equipment rental, healthcare products, medical products, and automotive dealerships. One Rock Capital Partners is based in New York City.

DEAL STATS #
Overall 2 of 25
Sector (Energy Services and Equipment) 2 of 2
Type (Secondary Buyout) 2 of 10
State (New Mexico) 1 of 1
Country (United States) 2 of 22
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 Dixie Electric

Midland, Texas, United States

Dixie Electric is a provider of electrical materials and services to energy companies in the Permian, Williston and Marcellus basins. The company specializes in oil field electrical construction and maintenance. Dixie Electric was founded in 1951 and is based in Midland, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-19 Kova International

Garden Grove, California, United States

Kova International is a developer, manufacturer, and marketer of in-vitro diagnostic products for the global urinalysis market. Kova International was founded in 1981 and is based in Garden Grove, California.

Buy -
Buyer

Barings Private Equity

Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 24 of 53
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 10 of 20
State (New Mexico) 1 of 1
Country (United States) 22 of 48
Year (2012) 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-17 JMH Premium

Salt Lake City, Utah, United States

JMH International LLC develops and manufactures a broad range of soup bases, sweet and savory flavor bases, stock concentrates, sauces, gravy mixes, dessert preparations, seasoning blends, powdered drink mixes, and dry complete meals. The Company, a leader in developing food flavoring systems, provides custom formulations and culinary solutions to the food industry, selling to customers in the foodservice, ingredient, specialty retail and co-manufacturing channels. JMH International was founded in 1982 and is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-20 Stag-Parkway

Atlanta, Georgia, United States

Stag-Parkway, Inc. is a aftermarket distributor of recreational vehicle parts and accessories, headquartered in Atlanta, Georgia. Stag-Parkway works with over 500 suppliers and services a fragmented customer base of over 2,000 RV dealers and independent service locations.

Buy -

Seller(S) 1

SELLER

Venquest Capital Partners

Dallas, Texas, United States
Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Venquest Capital Partners is a private investment firm focused on investing in profitable, privately-held mid-sized companies. Target businesses generally have at least $10 million in revenues and $2.5 million in EBITDA. The Firm will consider a variety of transaction situations, including acquisitions, buyouts, growth capital financings, and recapitalizations. Broad sectors of interest include manufacturing, distribution, and services. Venquest Capital Partners was formed in 2000 and is based in Dallas, Texas.

DEAL STATS #
Overall 3 of 4
Sector (Energy Services and Equipment) 2 of 2
Type (Secondary Buyout) 1 of 1
State (New Mexico) 1 of 1
Country (United States) 3 of 4
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-11 Premier Retail Interiors

Weston, Florida, United States

Premier Retail Interiors, Inc. engages in designing and manufacturing custom cosmetics displays for department stores.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-01 North Basin Coating

Levelland, Texas, United States

North Basin Coating is a provider of coating services that applies corrosion‐resistant fusion bonded epoxy and powder coatings on the internal and external surfaces of pipe, pumps, valves, fittings, vessels, and other steel components used in critical oil and gas and water/wastewater functions. North Basin Coating was founded in 1982 and is based in Levelland, Texas.

Buy -
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