Individual Buyer Acquires Bugle Energy Services

Axis Energy Services Merges with Brigade Energy Services

October 1, 2024

Oil & Gas

Axis Energy Services and Brigade Energy Services have closed a merger to form a combined well-servicing company operating under the Axis Energy Services name and headquartered in Dallas. The combination creates a larger, technology-forward well services provider with expanded workforce and equipment capacity—positioning the company to better serve major U.S. oil and gas basins and accelerate P&A, completion and workover capabilities.

Pelican Energy Partners Acquires United Services Group

March 10, 2025

Energy

Houston-based private equity firm Pelican Energy Partners has acquired United Services Group, a Charlotte-based full-service welding, machining, and fabrication contractor serving utilities and power generators. The deal expands Pelican's portfolio in the energy services sector and will support USG's continued growth across nuclear, fossil, natural gas, solar, and petrochemical markets.

Argonaut Private Equity Acquires Bandera Utility Contractors

May 4, 2022

Construction

Argonaut Private Equity, a Tulsa-based private equity firm, has acquired Bandera Utility Contractors, an underground wet-utility contractor headquartered in McKinney, Texas. The deal is the second investment from Argonaut's Fund V and is intended to accelerate Bandera's growth and operational expansion across Texas.

Pennybacker Acquires Baseline Energy Services

March 26, 2025

Energy

Pennybacker Capital Management has acquired Baseline Energy Services, a provider of low-carbon, mobile distributed power generation solutions that owns and operates ~210 MW across ~1,200 mobile units. Baseline's existing management, led by CEO Graham Radler, will remain in place as Pennybacker provides capital to expand the fleet (targeting up to 1 GW) and grow its presence across data center, industrial and energy end markets; prior investors Tug Hill Capital, Alturus Capital Partners and Donovan Ventures were thanked for their partnership.

Acacia Research Acquires Majority Stake in Benchmark Energy II

November 14, 2023

Oil & Gas

Acacia Research Corporation (Nasdaq: ACTG) has acquired a majority interest in Benchmark Energy II, LLC, an Austin, Texas–based independent oil and gas company focused on acquisition, production and development of operated assets in Texas and Oklahoma. McArron Partners, Benchmark’s existing lead investor, retains its investment and plans to commit additional capital while Acacia intends to use its capital base to accelerate Benchmark’s acquisition and field-optimization strategy.

The Sunland Family of Companies Acquires Big Bend Services

February 22, 2025

Industrial Services

Louisiana-based The Sunland Family of Companies has acquired Midland, Texas-based Big Bend Services LLC, a drilling services contractor that supports oil & gas, renewable energy, utilities and commercial development. Big Bend will retain its name, principals and employees and continue operations as before while Sunland expands its geographic footprint and service capabilities across the region.