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
Sunlight Group has acquired a 51% stake in Lehmann Marine GmbH
Through its acquisition of a 51% stake in Lehmann Marine GmbH, Sunlight Group continues to strengthen its position in the growing energy solutions market, while expanding its portfolio of innovative technologies. With over 30 years of expertise in producing lead-acid and lithium-ion batteries, Sunlight Group has established itself as a leader in advanced battery technology.
Learn moreCircle K has acquired Hanex
Hanex has been acquired by Circle K. This transaction highlights a key aspect of Circle K’s growth strategy, aimed at expanding its fuel station network across the Netherlands.
Learn moreE-distribuzione S.p.A. has sold 90% of NewCo to A2A S.p.A.
E-distribuzione S.p.A. has signed an agreement with A2A S.p.A. for the sale to the latter of 90% of the capital of a newly incorporated vehicle, to which electricity distribution activities in some municipalities of Lombardy will be contributed. Furthermore, E-distribuzione has also signed a non-binding memorandum of understanding with A2A aimed at exploring the possible acquisition of certain electricity distribution activities currently held by A2A, outside the provinces of Milan and Brescia.
Learn more