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    Pilot Flying J's PWT makes strategic acquisition of Equipment Transport LLC

    Dec. 5, 2018
    Pilot Flying J's PWT makes strategic acquisition of Equipment Transport LLC

    PDPS LLC dba PWT, a subsidiary of Pilot Flying J, the largest North American operator of travel centers and the fourth-largest tanker fleet in the United States, announced the purchase of equity interests in Equipment Transport LLC from CIVC Partners, LP (CIVC). This acquisition is one of several strategic partnerships made by Pilot Flying J this year to extend its core logistics business and grow its service offerings in the oilfield exploration and production (E&P) sector.

    "ET is an exceptional wellsite services platform with a strong reputation for outstanding customer service," said Shameek Konar, chief strategy officer at Pilot Flying J. "Incorporating ET into our Oil Field Logistics platform provides comprehensive, reliable and cost-effective logistical solutions to the Oil and Gas industry. With Pilot Flying J's fleet size, safety record, balance sheet, and geographic reach across all major oil and gas basins, we hope to enhance ET's ability to grow its customer base across multiple basins."

    Chief Executive Officer and founder Dave Florance and the rest of ET's management team will continue to lead the company as it serves its customers as a one-stop provider of reliable, safe, and fully compliant services.

    ET, founded in 2007, is a Carlisle PA-based provider of critical services supporting the drilling, completions, and production programs of exploration and production companies. The Company brings significant value to its customers in the Marcellus and Utica Shales and the Permian Basin through a broad service offering that includes fluid transportation, waste management, and ancillary pad support services. Collectively, ET serves its more than 70 customers through six locations with a highly trained workforce of over 500 employees.

    "Since its founding, Dave Florance and the ET management team have grown the business into a best-in-class provider of critical wellsite services, while outperforming the broader oilfield services industry and delivering exceptional organic growth," said Keith Yamada, partner at CIVC. "We have built a strong partnership over the last six-plus years and know we've found the right partner in Pilot Flying J to continue to support ET's future expansion."

    In June of this year, Pilot Flying J entered into a joint venture with Produced Water Transfer LLC to form PDPS, operating under the name PWT, and in July acquired Bridger Environmental Services LLC a water disposal platform and the crude transportation assets of Bridger Transportation. Today, Pilot Flying J and its subsidiaries operate more than 500 trucks and a dozen saltwater disposal wells, providing logistics and disposal services to customers in the Permian, Eagle Ford, Marcellus, and Haynesville shales as well as in Wyoming and Utah. 

    Houlihan Lokey Capital served as financial adviser and Winston & Strawn LLP served as legal adviser to ET. Bracewell LLP served as legal adviser to Pilot Flying J.