Wright Trucking, Inc. has been acquired by Hastings Equity Partners

The Selling Company: Wright Trucking, Inc. is an energy services firm that is involved in transporting and disposing of produced water from oil and gas production activities. The company also rents frac tanks and operates disposal wells in the Panhandle of Texas.

Why the company was sold: The majority shareholder was nearing retirement age and wanted to begin the process of selling his company. The buyer saw an opportunity to add flexibility and geographic presence adjacent to one of its portfolio companies.

Capital Alliance’s Performance: At the seller’s request, CA introduced only a few potential buyers, both strategic and financial. CA worked quietly and confidentially throughout the process. CA’s help in negotiating the terms of the deal and moving it forward toward closing were critical to getting the transaction completed.

Terms of the Transaction: Cash and stock.

The Acquiring Company: Hastings Equity Partners, a private equity firm headquartered in Boston.