Audax Group announced it has completed the acquisition of Bridgeport Tank Trucks, Inc. (“BTT”). Headquartered in Bridgeport, Texas, BTT is a leading independent provider of fluid transport and disposal services and equipment rentals for oilfield production and drilling applications in the Barnett Shale. Primary services include completion and production-related saltwater transport and disposal, and frac tank and related equipment rentals at the well site. Ronald Holley, President and Chief Executive Officer of BTT, will continue to lead the management team.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said “BTT is a leader in the water hauling and disposal services business in the Barnett Shale. It has an excellent reputation for service and reliability. We will work with management to grow the business through new services and product applications, geographic expansion, and strategic add-on acquisitions.”
Ronald Holley, President and Chief Executive Officer of BTT, said “We are excited to have Audax Group as our partner. Their experience working with middle market companies and the oil and gas sector will be valuable as we continue to build and expand our business.”
Ropes & Gray LLP advised Audax Group. Western Strategic Partners advised BTT. Wells Fargo Foothill, Inc. and Regiment Capital Advisors, LP provided one-stop debt financing for the transaction.