Certain investment affiliates of private-equity firm J.F. Lehman & Co. (JFLCO) acquired a majority stake in shale services company Sprint Energy Services LP, JFLCO said May 14. Company management also made the acquisition.
Houston-based Sprint provides wellsite waste management, environmental and safety solutions, technical services and rental equipment. Sprint has eight regional offices across three major shale basins.
"We are excited to partner with Sprint's management team and the prior owners," said Glenn Shor, principal at JFLCO. "Sprint has built a highly respected brand name and outstanding reputation by providing specialized, responsive and high-quality environmental services. We are eager to continue Sprint's history of excellence by leveraging their excellent management team and leading capabilities to grow the company."
Jones Day was JFLCO’s legal counsel. Iberia Bank arranged the debt financing for the transaction.
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