Houston-based private equity firm Rock Hill Capital Group has closed on a majority recapitalisation of Big Lake Services, a West Texas oilfield services provider operating throughout the Permian Basin.
Big Lake, founded in 2006 by chief executive Casey Davidson, has a management team with over 150 years of Permian Basin experience. The company provides maintenance, completion and workover services to some of the most prolific exploration and production companies in West Texas, many of which have been customers since Big Lake’s inception.
Since the company’s founding, management and key personnel have grown the business from three workover rigs to 22 currently.
“We are excited about backing Casey and his team. Big Lake has shown the ability to grow its business in both good and challenging times because of the superb service they provide, vast experience and depth of relationships management has built over the decades," says James P Wilson (pictured), managing director of Rock Hill Capital Group. “This group represents exactly the type of business owners Rock Hill seeks to partner with as they look to continue to expand their business, Big Lake is poised to continue the expansion of its product and service capabilities throughout West Texas in the coming years.”
“We are excited about partnering with Rock Hill. It was time to find the right partner to help continue to grow the business and take advantage of exciting opportunities in the Permian Basin region,” says Davidson. “Rock Hill’s experience and strong leadership in the oilfield services space is exactly what we need to help take what we have started to the next level. I couldn’t be more excited about the growth possibilities ahead.”
