© 2014 The Texas Lawbook.
By Natalie Posgate
Staff Writer for The Texas Lawbook
(January 24) – Gainesville, Texas-based Texoma Transportation & Crude Marketing, LLC announced Friday that it has acquired Edmond, Okla.-based CP Energy. Funds managed by private equity firms Crestview Partners and B-29 Investments also acquired a controlling stake in the company.
The monetary value and other details of the transaction were not disclosed.
Vinson & Elkins represented Crestview in the deal, with Houston M&A partner Keith Fullenweider and associate Chris Colquitt as the lead attorneys. Houston tax partner John Lynch and M&A associate Matt Greenberg also assisted.
Fullenweider said V&E has previously worked with Crestview in connection to several other energy investments.
Texoma used its in-house lawyers as legal counsel for the transaction. Legal advice for B-29 Investments, also based in Gainesville, was provided by its General Counsel, Duncan Simpson.
Oklahoma-based McAfee & Taft served as legal counsel to CP Energy.
CP Energy provides customers with the logistics and marketing services they need to transport and sell their crude oil to strategic pipelines and refineries. Texoma’s acquisition of CP represents its entry into the Texas/Oklahoma Panhandle region and strengthens its overall market position.
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