May 31, 2012
North State realizes investment in NYTEX Energy Holdings
Charlotte, NC - North State Capital Investors, LLC (“North State”), is pleased to announce a realization of its investment in NYTEX Energy Holdings, Inc. (“NYTEX”) in connection with its sale of certain assets to private equity firm Prophet Equity LP. The realization provided a substantial return for North State and its investment partner.
NYTEX, through its Francis Drilling Fluids division (FDF), was a full-service provider of drilling, completion, and specialized fluids, dry drilling and completion products, technical services, industrial cleaning services and equipment rental for the oil & gas industry. Headquartered in Crowley, Louisiana, FDF operates out of 22 locations in Texas, Oklahoma, Wyoming, North Dakota, and Louisiana. Its customers include exploration and production companies, oilfield and drilling service companies, frac sand and proppant manufacturers, and international brokerage companies of proppants.
North State makes non-control investments in growing middle market companies with substantial management ownership. North State was advised by Fennebresque & Co. and McGuire Woods LLP.