Empeiria Capital Partners LLC, a New York-based private equity firm, today announced that its affiliate, Tank Partners Holdings LLC, has completed the acquisitions of JL Bryan Equipment & Lease Services, Inc. and Tank Partners LLC.
Based in Perryton, Texas, JL Bryan manufactures and distributes a comprehensive range of storage tanks and pressure vessels used to separate and store oil and water at oil and gas wellheads. It provides the equipment to oil and gas companies globally with a primary focus on the Mid-Continent region in the U.S. Based in Seguin, Texas, Tank Partners manufactures steel storage tanks and pressure vessels primarily for oil and gas producers operating in the Eagle Ford shale and the Permian Basin.
Alan Menkes, Managing Partner of Empeiria and Chairman of the Board of Tank Partners Holdings, commented, “The establishment of Tank Partners Holdings and the acquisitions of JL Bryan and Tank Partners represent our third platform in the oil and gas equipment sector, which began with Empeiria’s highly successful investment in Conner Steel Products Holdings Co. We are excited to launch our platform with two extremely well regarded businesses and we look forward to working with the management teams of JL Bryan and Tank Partners to continue the companies’ growth and pursue strategic add-on acquisitions.”
Joining the Board of Tank Partners Holdings will be Barry Brigman and Joe Fiamingo, who served as Chairman of the Board and President & CEO, respectively, of Conner Steel during Empeiria’s ownership. Barry Brigman said, “We believe this is an opportune time to invest in the oilfield equipment and services space, given the positive outlook for numerous major resource plays in the U.S. We have assembled a great team to take advantage of the organic growth and acquisition opportunities ahead of us.”
Both companies will continue to be managed by their existing senior executives, who have become investors in the new platform.