Extreme Plastics Plus (EPP) and Mustang Energy Services (Mustang) merged in July, creating one of the country’s largest environmental containment services companies. With a presence in most of the major domestic oil and natural gas basins in the country, the combined company will serve exploration and production operators across Texas, New Mexico, Oklahoma, Pennsylvania, West Virginia, Ohio, Colorado and Wyoming.
To facilitate the merger, an affiliate of Blue Wolf Capital Partners LLC (Blue Wolf), a New York-based private equity firm and majority investor in EPP, has acquired a majority interest in Mustang. In conjunction with the transaction, Todd and Whitney Creel, the founders of Mustang, have retained a significant interest in the combined company.
“We are excited to become a part of the Blue Wolf family and, in turn, join forces with EPP,” said Todd Creel, founder, president and CEO of Mustang. “This new partnership—between two great companies—creates an industry leader with best-in-class technology and processes, and a highly talented and experienced team.”
Together, EPP and Mustang will provide a variety of containment services, including environmental liner systems and installations, above ground storage tanks, composite mats, secondary containment systems and floating covers.
“We are thrilled to merge with Mustang to create the country’s most formidable environmental containment solutions business,” said Wade Holt, president of EPP. “The combined company will have significant scale as well as a diversified suite of products and services to offer our customers across the U.S.”
“Considering the combined scale, broad geographic footprint and complementary service lines, the merger of EPP and Mustang is strategically sound,” said Jay Minmier, CEO of EPP. “While both companies have tremendous growth opportunities on a standalone basis, the combined organization has even more potential.”
Blue Wolf recently appointed Minmier as CEO of EPP, and he will serve as CEO of the combined company. Minmier most recently served as president of Nomac Drilling from 2011 through 2017, when Nomac’s parent company, Seventy Seven Energy, was acquired by Patterson-UTI. He brings more than 25 years of oilfield services experience and a vast network of industry contacts that will benefit the combined company.