ARTESIA, N.M., January 22, 2014 – Artesia, N.M.-based Wilbanks Trucking, Inc., a rig mobilization company serving the Permian Basin, has been acquired and rebranded to Wilbanks Energy Logistics (Wilbanks). Wilbanks Chairman of the Board George Mattson made the announcement.
“Wilbanks stood out to us immediately because of its outstanding reputation in the Permian Basin built on strong customer service, unmatched safety protocol and consistent delivery of long-term value to clients,” said Mattson. “We’d like to thank the Wilbanks family. Founder Ronnie and his son Lance, who will continue with the company as chief operations officer, were integral to our commitment to this investment.”
Wilbanks Trucking was purchased by an investment group consisting of George Mattson of Manalapan Capital, and other former Goldman Sachs senior executives; One Equity Partners; Michael A. Wysocki, the former CEO of United Road, a vehicle logistics provider, and Northville, Mich.-based Wydrocarbon, an exploration and production company; and Lance Wilbanks.
“After two and a half decades dedicated to growing Wilbanks into an industry leader and employer of choice in the region, I’m pleased by the interest this strong group of investors has shown in the Wilbanks brand,” said Ronnie Wilbanks, founder and former owner. “I am confident that this new group of owners has the business experience, investment capital and long-term vision to continue Wilbanks’ development into the leading energy logistics provider in the Permian Basin.”
“To date, Wilbanks has brought aboard leaders in finance, logistics and technology, empowered and elevated existing company leaders, and hired additional rig mobilization professionals to meet growing customer demand,” said Michael A. Wysocki, Wilbanks CEO. “We have also committed more than $15 million of capital to date for the expansion of our late model fleet of heavy haul and specialized rig mobilization equipment.”
“One Equity Partners is delighted to invest in a company with such a strong culture of service to its energy customers in the Permian Basin,” said Jamie Koven, a Managing Director at One Equity Partners. “We look forward to continuing to build on the momentum and reputation Wilbanks has earned in the region.”
For more information, visit www.wilbanksel.com.
Wilbanks Energy Logistics is an Artesia, N.M.-based energy logistics and rig mobilization company dedicated to delivering solutions that create long-term value and competitive advantage for customers. Founded in 1987, the company offers an extensive suite of services to the American energy industry, including rig mobilization, production services, equipment and pipe rental, and crane service. For more information, call 575.746.6318 or visit www.wilbanksel.com.