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Nations Capital Acquires Assets Formerly Owned by BJ Services

August 05, 2021, 07:10 AM
Filed Under: Mergers & Acquisitions

Nations Capital, Inc. (NCI) announced it has acquired certain assets formerly owned by BJ Services, LLC (the Company) in a transaction with GACP Finance Co., LLC), Administrative Agent, managed by the investment advisors, WhiteHawk Capital Partners, LP. The assets were sold in connection with the Company's Chapter 11 cases in the Southern District of Texas in which GACP, as Administrative Agent under the Term Loan Agreement, is exercising its right regarding the sale of its collateral.

The assets include a large fleet of truck tractors, acid and cementing equipment, chemical transport trailers and miscellaneous support equipment located in Rifle, CO, Cheyenne, WY and Dickinson, ND. All assets will be offered to NCI's customer base and interested parties as bulk fleets or individually by private sale only.

"We are very pleased to provide WhiteHawk and GACP with a mutually beneficial solution that both meets their needs and allows them to execute on their business initiatives and goals.  Speed, transparency and creativity were critical in consummating the sale," said Zac Dalton, co-founder and Executive Vice President, Nations Capital. "All assets that were acquired will be consolidated and available for sale through a multi-faceted selling approach at facilities located in Colorado and North Dakota.  

Bob Louzan, President of WhiteHawk, added, "The NCI management team, led by industry veterans, responded professionally to GACP's commercially reasonable sale process and agreed to commercially reasonable terms and price.  CI clearly demonstrated their ability to provide a rapid and seamless solution that directly addressed our challenges and desired outcomes in these regions. We are continuing to sell BJ's assets in a strategic manner."

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