Daily News: May 9, 2014

RBS Citizens Agents Three Amigos Acquisition

Hastings Equity Partners announced its investment through its portfolio company Extreme Plastics Plus in Three Amigos Rentals.

Financing for the Three Amigos investment was provided by RBS Citizens as administrative agent and as syndication agent. Advisory services provided by Edwards Wildman Palmer and Riveron Consulting.

Founded in 2009, Three Amigos is based in Hobbs, NM and installs water containment systems for drilling and fracking activities in the Permian Basin. Three Amigos provides Extreme Plastics with a foothold in the fastest growing area in the US Oilfield (the Permian Basin) and brings with it access to some of the largest customers in the area.

“We are pleased to join forces with the Wharry Family in our support of Extreme Plastics’ growth and expansion with this equity investment enabling Extreme Plastics’ acquisition of Three Amigos,” said Ted Patton, Managing Director of Hastings Equity Partners. “Hastings couldn’t be more excited about this opportunity.”

“The team at Three Amigos will be the foundation of our new Permian division. Their customer focus and excellent service record have enabled them to build strong relationships with companies like OXY and Cimarex. We are excited to have them on board,” said Bennie Wharry, CEO of Extreme Plastics.

Fairmont, WV-based Extreme Plastics Plus is an oilfield environmental services company focused on protecting well sites.