Red Dirt Rentals, Inc. has been acquired by Rix Energy, LLC
The private shareholders of Red Dirt Rentals, Inc. have sold the company to Rix Energy, LLC. Financial details have not been disclosed.
Red Dirt Rentals, Inc. originally began as an equipment rental company to exploration and production (E&P) firms in Texas and Pennsylvania. The company evolved into torque and testing, as well as isolation tool rental and services.
Rix Energy, LLC was founded in 2009 by Kim Snell and Ricky Escobedo. Born out of the desire to build a great company from the ground up after having worked together for many years, the partners assembled a group of trusted crews and team members to deliver workover services in Kansas and Oklahoma. Starting with only two rigs, the company quickly grew, expanding the operation to west and south Texas.
Oaklins' team in Dallas advised the seller in this transaction, introducing over 25 potential buyers to the company principals and assisting in price negotiations, due diligence and closing documents.
Talk to the deal team
Bryan Livingston
Oaklins Capital Alliance
Related deals
Top Systems teams up with Holland Capital to create the premier Dutch battery-based solutions provider
Holland Capital, a Netherlands-based private equity firm, has acquired a stake in Top Systems, a leading provider of complete battery-based power solutions, with a unique value-added services proposition.
Learn moreEVIO has raised funds from Lince Capital for its international expansion
EVIO has secured a second fundraising round lead by Lince Capital, a Portuguese private equity firm, in order to fund its international expansion and reinforce its commercial activity.
Learn moreTotalEnergies and SHV Energy have sold PitPoint.LNG to ViGo Bioenergy
TotalEnergies and SHV Energy have agreed to sell PitPoint.LNG, a Netherlands-based operator of state-of-the-art LNG refueling stations, to ViGo Bioenergy, a Germany-based developer and operator of refueling stations for alternative fuels. With this strategic acquisition, ViGo Bioenergy expands its international station network for alternative fuels and strengthens its European bio-LNG position.
Learn more