Rock Hill Capital Group Announces Investment in Ace Gathering Holdings, LLC
Houston, TX (December 20, 2017) – Rock Hill Capital Group (“Rock Hill”) today announced that it has completed its investment in Ace Gathering Holdings, LLC (“Ace” or the “Company”), a provider of crude oil marketing, gathering, and reclamation services to oil producers, salt water disposal operators, and other service companies throughout Texas and the surrounding states.
Ace, founded by its management team in 2014 and headquartered in Katy, Texas, provides gathering and reclamation services through two separate wholly-owned subsidiaries, Ace Gathering, Inc. (“Ace Gathering”) and Maker’s Oil Corporation (“Maker’s”). Ace Gathering offers crude oil gathering services with its top-of-the-line fleet of trucks and trailers as well as crude oil marketing services for customers ranging from small, independent producers to large majors. In May 2016, Ace acquired Maker’s, a crude reclamation and tank cleaning business with over two decades of operating history. Maker’s offers oilfield waste cleanup and waste oil removal services for salt water disposal wells, crude oil production tanks, pipelines, and marine barges. The combined companies have over 90 employees with locations in Somerville, Corpus Christi, Giddings, Swinney Switch, Odessa, and Katy, Texas.
“Mike and Cody have built an outstanding team and have done an excellent job of strategically positioning the company for organic and geographic growth over the next several years. We are very excited about the opportunity to partner with the Ace team and look forward to supporting the company’s continued growth,” said Randall B. Hale, Managing Director of Rock Hill.
“The management team at Ace is happy to have found a partner that believes in our strategic vision and our ability to expand the business. We are entering a period in our growth where Rock Hill’s financial support and professional guidance will be instrumental in taking us to the next level,” said Mike Clinard, Chairman and CEO of Ace. Cody Schluens, President and COO of Ace added, “We are thrilled about our partnership with Rock Hill and what this means for the future of the company. We look forward to Rock Hill’s leadership as we expand our capabilities to service existing and prospective customers in new areas.”
Ace represents the second investment by Rock Hill’s third fund – Rock Hill Capital III, L.P. Legal representation services for the transaction were provided to Rock Hill and the selling shareholders by Winston & Strawn and Andrews Myers, respectively.