Lime Rock Partners Announces Management Buyout of A&B Valve
6/19/2024Houston — June 19, 2024 — Lime Rock Partners, private equity investors in E&P and oilfield service companies, today announces the management buyout of A&B Valve, the largest valve servicer and provider in the Permian Basin. Lime Rock has teamed up with Gideon Hixon, the CEO of A&B, and other members of the A&B management team, to acquire the company from its family office ownership group.
A&B Valve was originally founded in 1972 and has evolved to become a Permian-focused market leader in three business lines: valve distribution; valve installation, maintenance, repair, and testing; and actuation solutions to automate valves. Headquartered in Houston, A&B operates primarily out of Midland, Texas and Carlsbad, New Mexico to serve clients throughout the Permian Basin.
Mr. Hixon said, “We are thrilled to partner with Lime Rock Partners, one of the most experienced private oilfield service investors in the country. This will give us the partner we need as we expand our offering and technical differentiation to better serve our customers throughout the Permian.”
Greg Highberger, a managing director of Lime Rock Partners, added, “A&B has all the hallmarks of a business we like: a returns-driven management culture; a strong cash-flowing business; and a differentiated offering to its customers. We are excited to be a partner with Gid and his team as A&B enters a new era.”
For more information on A&B, please see www.abvalve.com.
Since its inception in 1998, Lime Rock Management has raised over $10.0 billion in private equity funds and affiliated co-investment vehicles for investment in the energy industry through three strategies: Lime Rock Partners, investors of growth capital in E&P and oilfield services companies; Lime Rock Resources, acquirers and operators of oil and gas properties in the United States; and Lime Rock New Energy, investors of growth capital in products and services companies in the energy transition. For more information, please visit: www.lrpartners.com.
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