SOC Partners Acquires Integrity Slickline
Integrity Slickline Services, LLC (www.islickline.com), headquartered in Ft. Smith, AR has been acquired by SOC Partners of Canonsburg, PA in a transaction closed on April 5, 2021.
Integrity is a leading regional provider of post-completion slickline services with operations in the Arkoma, Eagle Ford and Marcellus basins. Despite the 2020 oil & gas downturn, Integrity continued to perform well and actually expanded its geographic service area and customer MSA count during a time when the broader oilfield service sector was suffering badly. In a competitive divestiture process conducted by Pritchard Griffin Advisors, Integrity received very active interest and ultimately closed with SOC.
Lead by Chairman Matt Brewer, SOC invests in a variety of energy and infrastructure-related initiatives in the Marcellus/Utica region and is expanding its operations into the Eagle Ford and Permian basins in Texas. Among SOC’s oilfield service portfolio, HydroEdge Solutions provides water resource management to oil & gas exploration and production companies. Related through common ownership, HydroEdge and Integrity have the opportunity to cross-pollenate non-overlapping services and customers to create incremental new revenues for both companies.
Integrity’s CEO Brandon Parker will continue to lead the Company following closing of the transaction. Parker stated, “We’re thrilled with the outcome of the deal which exceeded our initial expectations and we’d like to thank Ken Griffin, Gary Messineo and the team at Pritchard Griffin for getting the deal done exactly as was mapped out in the initial kickoff meeting in December”.
SOC’s Matt Brewer added, “We’re excited to complete the deal and to realize near-term synergies between our portfolio companies and to continue to add resources to Integrity to take advantage of opportunities coming out of the current oil & gas rebound”.