Select Energy Services, LLC
Select Energy Services (“SES”) is an industry leader in delivering innovative and efficient end-to-end water solutions and well-site services to energy producers. Select was founded in 2007 when John Schmitz and a few key industry leaders founded Peak Wellsite Rentals, LLC, in Gainesville, Texas. In 2008, the company acquired Impact Energy Services and certain business lines of Complete Production Services; the combined entity was officially renamed Select Energy Services. Later, in 2010, B-29 and an outside private equity firm recapitalized SES. After growing the Company organically and through acquisitions, Select Energy Services completed an IPO in April 2017. Select Energy Services trades on the NYSE under the ticker “WTTR”.
Allied Technology, Inc.
Allied Production Solutions was formed in early 2006 to consolidate the ownership interests of Titan Tanks and Vessels, LLC, Midco Fabricators, Inc., and M-Co Packaging, Ltd. Allied’s facilities in Elmore City, Guthrie, and Chickasha, Oklahoma, and Gainesville, Texas manufacture fluid storage tanks, separation vessels, dehydration units, heating units, ASME code certified vessels, and skid-mounted custom packages. This entity was recapitalized by an outside private equity firm in August 2007 and was later merged with four other companies in August 2010 under the label Forum Energy Technologies, Inc. After a series of bolt-on acquisitions, Forum Energy Technologies went public on the New York Stock Exchange in April 2012.
BSI Holdings was formed in 2002 to hold ownership interests in Red River Well Services (dba Mercer Well Services and Barnes Brothers), Bell Supply Company, Tejas Oilfied Services, Shale Tank Truck, Basin Tool Company, Felderhoff Brothers Drilling, Western Bentonite and Price Pipeline Construction. Shortly after the entity’s formation, an outside private equity firm recapitalized the entity and made it the cornerstone of the North Texas Division of Complete Energy Services, Inc. in November 2003. Later, in September 2005, Complete Energy Services merged with Integrated Production Services and IE Miller Services to broaden its scope of services and to gain the critical mass for its Initial Public Offering on the New York Stock Exchange in April 2006.
Crest Pumping Technologies
Crest Pumping Technologies is a premier provider of downhole cementing, acidizing, and pump down services that commenced operations in February 2012. Before its sale to Nine Energy Service in June 2014, the business expanded from its original location serving North Texas by opening two new facilities that increased its coverage reach to include South Texas and West Texas.
Elite Wellsite Services
Elite Wellsite Services was formed in February 2010 to offer a competitive solution to customers’ needs in the fluid handling market of North Texas. The entity accumulated fifty tank trucks from its inception until its eventual sale to Select Energy Services in December 2011. The entity’s assets also featured frac tanks, end dumps, bobtails, and anchor trucks.
S&S Directional Drilling
S&S Directional Drilling was founded in October 2009 to provide directional boring services to install underground gas lines, oil lines, water lines, and product pipelines with minimal impact to the surrounding area. Select Energy Services purchased this entity in December 2011.
WTR Transfer Services, Inc.
WTR Transfer Services was a Canadian company founded in late 2010 to specialize in high-volume water transfer through a “no leak” system. WTR’s business was purchased by Select Energy Services in December 2011 in order to establish a presence in the unconventional drilling markets in Western Canada.
The information presented herein represents the full list of portfolio company investments made by B-29 Investments over the past 25 years. This information is not intended to be a recommendation to buy or sell any securities. Investments may be subject to change without prior notification. It should not be assumed that the recommendations made in the future will be profitable or will equal the performance of the securities in this list.