Pittsburgh Oilfield Services Co Expands with Local Investment

Three Pittsburgh-area oilfield services companies–White’s Equipment Rental, Crossfire Production Services, and White’s Welding–are collectively owned by a single company, White’s Holdings. Owner Calvin White started White’s Welding first, in Oklahoma, and grew the enterprise from there, eventually expanding into the northeast. White’s move to the northeast was prescient. The Marcellus/Utica has supercharged his businesses in the region. It was time to grow, and is often the case, small businesses growing into medium-sized businesses need cash to do so. Enter another Pittsburgh-area company, F.N.B. Capital Partners (FNBCP), a private equity firm. FNBCP has just announced they’ve made an investment in White’s Holdings so the company can expand. That is, White has traded away some ownership (retaining majority ownership) in return for cash to expand the three businesses that serve the drilling industry in the northeast. Another jobs and economic miracle courtesy of fracking…

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