Energy Capital Partners announced the completion of a recapitalization of Chieftain Sand and Proppant, LLC on July 25, 2012. This is the first investment from Energy Capital's Mezzanine Opportunities Fund.
Chieftain Sand chose to partner with Energy Capital because of ECP's energy investing experience and flexibility in tailoring a capital structure to allow Chieftain Sand to execute its strategic growth plan.
Chieftain Sand owns and operates two frac sand production plants in Wisconsin and Arkansas. The Company recently commissioned its new production facility in western Wisconsin where the geologic resource yields the highest grade and most favorable particle size distribution for the specific frac sand products needed for oil and liquids-rich production.
We are excited to become Chieftain Sand's capital partner and fund its proven ability to serve the exacting and demanding requirements of the supply chains of the largest oil field services companies with the highest quality product and low-cost logistics capabilities," said Energy Capital Partner's Nazar Massouh.
"Our partnership with Energy Capital will provide Chieftain Sand with access to capital and a long-term strategic partner who can support our growth plan," commented David Hanson, Chieftain Sand's CEO.
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