M-U Man Camp & Mobile Command Center Provider Sold for $17 Million
KLX Energy Services has acquired all assets of Wolfpack Rentals for $17 million, including $14 million at closing and two deferred payments of $1.5 million each. Wolfpack, founded in 2005 and based in Texas, provides surface rental equipment and services to oil and gas E&P, midstream, construction, and industrial customers across Texas and the Marcellus/Utica region, including regional offices and operations in West Virginia and Ohio. A better way to understand Wolfpack is to think of them as renting trailers for “man camps” — temporary settlements of oil and gas workers in remote locations. Read More “M-U Man Camp & Mobile Command Center Provider Sold for $17 Million”
KLX Inc. is the “world’s leading provider” of aerospace fasteners, consumables, and logistics services, operating as KLX Aerospace Solutions. Little known fact: KLX also provides oilfield services and associated rental equipment across North America as KLX Energy Services. In particular, KLX operates in the Marcellus/Utica region. KLX Energy Services is actually an umbrella covering seven companies KLX has acquired in the energy services sector. Each unit is in the business of providing technical services and related rental equipment to oil and gas exploration and production companies (i.e. drillers). KLX provides a broad range of solutions and equipment. Here’s the big news: KLX the aerospace company is selling itself to Boeing (yes, that Boeing) for $4.25 billion ($3.25 billion in cash and assuming $1 billion in debt). But Boeing isn’t interested in the oilfield services business, so KLX Energy Services is being spun off into a standalone company. Here’s the details…