Black Cliffs Partners in partnership with Liebman Group is proud to announce the acquisition of a majority interest in Pine Island Chemical Solutions (“Pine Island” or “the Company”). Headquartered in Louisiana, with locations throughout Louisiana and Texas, the Company provides chemicals to the oil & gas industry.
Liebman Group and Black Cliffs Partners have partnered with the Company’s existing senior management team to recapitalize the business and to provide additional capital to support add-on acquisitions and organic geographic expansion. The existing management team will maintain a significant minority ownership position in the Company going forward. Terms of the transaction were not disclosed.
Michael Lunt, Managing Director at Black Cliffs Partners, commented, “We are beyond thrilled to be partnering with Pine Island’s talented and experienced management team. John Michael Chachere is a dynamic leader, with deep industry roots and a true love for the Company and its employees. Together, we will take the Company to new heights.”
Scott Liebman, Liebman Group’s Managing Partner added “Black Cliffs Partners is an ideal family office partner for Liebman Group. In addition to having a likeminded investment approach, we have complementary skillsets that allow us to add increased value to our portfolio investments. We look forward to working together on this transaction and beyond.”
About Pine Island Chemical Solutions:
Pine Island Chemical Solutions is a privately owned and operated oilfield service company specializing in the production of treating chemicals, water treatment chemicals and completion chemicals.
The Company has provided the energy industry with quality products and superior technical expertise for over 15 years, providing custom products to meet all customer needs. PICS has a variety of customers including E&P companies, service companies and water midstream operators. The Company has four established geo-markets including Gulf Coast, AK-LA-TX, the Eagle Ford Shale and Permian Basin.