Big news was reported in early April, as three Texas oilfield trucking fleets have agreed to merge. Based on the announcement, the combined company will become one of the largest hydraulic fracturing proponent for the oil field industry in North America.
The newly formed company—1845 Oil Field Services—involves D&T Trucking, Rowdy Farms and Gila Hotshot. 1845 Oil Field Services is going to be based out of Weatherford, Texas. D&T Trucking CEO Tim Buffington is planning to become the CEO of the new company, while Craig Gandy, the founder of Rowdy Farms, will assume the position of executive vice president of sales.
This merger brings many advantages to the trucking companies, including a 24/7 live dispatch operation center and innovative logistics technology for delivery tracking and reporting, as well as the backing of a private equity group. This merger will benefit customers in that it gives them access to a fleet of almost 500 dedicated power units.
Texas Mergers—Legal Help
Let’s face it, mergers are not easy and there are a lot of factors involved. However, they are often very beneficial to companies, if done correctly. It is important that all of the appropriate steps are taken and that legal protections are put in place to ensure a smooth business transaction.
If your company is pursuing a merger, you should contact a business attorney—even if the transaction is only a consideration at the moment. You want to make sure that you are setting up the deal the right way.
To learn more, contact the Plano business attorneys our office today by calling 972-378-9111 or filling out our online contact form. We will go over the details of your potential business transactions and answer your questions.