Citadel Advisory Group, LLC, a Colorado based investment banking firm specializing in oilfield services, announces the acquisition of Pauper Industries, Inc. and Parka, Inc. by a group of private equity investors based in Chicago, IL. Pauper and Parka are two of four separate entities which were simultaneously rolled into a new company, P&P Industries. The other companies, Lambert Salt Water Disposal, and Lambert Well Service, perform complimentary services in the burgeoning Bakken basin. As a result of the partnership, P&P Industries becomes the Bakken region’s 3rd largest non-crude fluids hauler with a diverse customer mix.
“Pauper and Parka are a great representation of quality Bakken service providers.” said Chris Frevert, Managing Director of Citadel. “The combined management of Buck and Chad Herman of Pauper, teamed with Tim and Jeff Partin of Parka, will create a dominant force within the region,” he concluded.
About Pauper Industries, Inc.
Pauper has been in operation since 1999, with locations in Lambert, MT and Stanley, ND. Services include fluid hauling, tank rental, frac heaters, and saltwater disposal. Their equipment complement includes over 50 heavy trucks, over 50 trailers, over 300 tanks, and a salt water disposal facility.
About Parka, Inc.
Parka has a strong foothold in the Bakken oilfield, offering fluid hauling, tank rental, frac heaters and salt water disposal services from locations in Sidney, MT and Killdeer, ND. The company was founded in 2004 and has grown to over 150 employees, and includes an equipment complement of over 400 tanks, over 50 trailers, and nearly 50 heavy trucks including vacuum, winch and hot oilers.
About Citadel Advisory Group
Citadel Advisory Group (CitadelAdvisory.com) is a mid-market Investment Banking and merger and acquisition advisory firm with deep oil and gas industry experience. Citadel offers M&A advisory services, recapitalizations, exit and succession planning, valuations, divestment advisory and strategic financial advisory services. Security transactions are offered through Hunter Wise Securities, LLC, with 13 offices world-wide. Hunter Wise is a registered broker dealer, member FINRA/SIPC HunterWise.com.