Blue Wolf Goes Hunting – Extreme Plastics Merging with Mustang

Extreme Plastics Plus (EPP) has been manufacturing and installing well pad liners since 2007. Pad liners protect the ground from accidental spills of frack wastewater and chemicals used during the drilling process. Located in Fairmont, WV, EPP’s customers are in the Marcellus and Utica Shale region. In order to expand, EPP raised an undisclosed amount of investment money from Hastings Equity Partners in 2013 (see WV Well Pad Liner Company Gets Shot of Investment Money to Grow). However, a few years later the market turned down and EPP fell on hard times, eventually filing for bankruptcy (see WV Oilfield Services Co. Extreme Plastics Files for Bankruptcy). In late 2016, MDN told you that Blue Wolf Capital Partners was on the hunt for bargains and had offered a “stalking horse” bid to purchase EPP out of bankruptcy. Blue Wolf landed its prey, buying the company’s assets out of bankruptcy in December 2016 (see Blue Wolf Stalks and Rescues Extreme Plastics from Bankruptcy). According to Blue Wolf, EPP would exit bankruptcy with a debt-free balance sheet and in the pole position for an eventual oil and gas market recovery. Blue Wolf has gone hunting again and this time found Mustang Energy Services, another pad liner company. Blue Wolf announced earlier this week it has orchestrated a merger between EPP and Mustang. The combined companies (no word yet on which name, if either, they will use), have customers in eight states and counting. Here’s what happens when Blue Wolf goes hunting…

Please Login to view this content. (Not a member? Join Today!)
You do not have permission to view the comments.

Please Login to post a comment