BOSTON, March 10, 2014 /PRNewswire/ -- Hastings Equity Partners, a private equity firm focused on investing in lower middle market energy services and equipment companies, is pleased to announce the sale of Danlin Industries ("Danlin") to Arsenal Capital Partners. Headquartered in Thomas, Oklahoma, Danlin provides production chemicals, capillary services and completion chemical solutions to oil & gas exploration and production companies across Oklahoma, Texas, Wyoming, Arkansas, Louisiana, Colorado, New Mexico, Kansas and Utah.
"Hastings has been an excellent partner for Danlin, helping us almost double in size over the last 3 years and supporting us as we reshuffled our management team upon the retirement of our founder," said Roger Floyd, Chief Executive Officer of Danlin. "We now look forward to our next phase of growth under our new partnership with Arsenal Capital Partners."
"Hastings couldn't be more proud of its association with Danlin's remarkable employees and leadership team," said Ted Patton, Managing Director of Hastings Equity Partners. "Under the stewardship of the Floyd family, who founded Danlin, the company has delivered consistent growth since inception through economic cycles and challenging operating environments."
Simmons & Company International served as exclusive financial advisor to Danlin in the transaction. Morse, Barnes-Brown & Pendleton, PC served as legal counsel to the shareholders of Danlin in the transaction.
About Hastings Equity Partners
Hastings Equity Partners is a private equity firm focused on investing in lower, middle-market businesses in the energy sector. Hastings' approach is to leverage the extensive operational experience of the firm's managers and investors, many of whom are active or former CEOs of Fortune 1000 companies. In addition, due to the firm's expanding portfolio of oilfield services & equipment companies, it is able to share best practices, technology trends and contacts across its platform to ensure that all of its investments benefit. Hastings strives to help companies create sustained value for their employees, customers, and investment partners. Learn more at: http://www.hastingsequity.com/
SOURCE Hastings Equity Partners