[Context: On October 3, Simmons & Co. announced it advised Nichols Oil Tools in its sale to Argonaut Private Equity. Further details are below.]
Argonaut Private Equity (“Argonaut”) has closed on the acquisition of Nichols Oil Tools, LLC (“Nichols Oil Tools” or the “Company”).
Nichols Oil Tools is a leading provider of tubular rental equipment, pump down and other services for oilfield applications in U.S. unconventional oil and gas plays. Based in Jacksboro, Texas with locations in Midland, San Angelo and Pecos, Texas, the Company serves a strong, blue-chip customer base composed of energy exploration and production companies and oilfield service companies.
Founded in 2002, Argonaut is a Tulsa-based private equity firm that manages investments across multiple industry sectors with over $3 billion of capital deployed in direct investments. In 2018, Argonaut raised Argonaut Private Equity Fund IV to continue its history of investing in growth and mature companies looking for capital to unlock accretive value creation opportunities.
Simmons & Company International | Energy Specialists of Piper Jaffray® served as the exclusive financial advisor to Nichols Oil Tools in the transaction.