SPL Inc., a provider of laboratory analysis, measurement, and allocation services of hydrocarbon products for the oil and gas industry, has acquired Caprock Laboratories Inc.
SPL is a portfolio company of Hastings Equity Partners, a private equity firm focused on investing in lower middle-market energy services and equipment businesses. Hastings partnered with certain funds advised by Jordan/Zalaznick Advisers Inc. and The Edgewater Funds.
Based in Midland, Texas, Caprock provides hydrocarbon laboratory analysis and measurement services to oil and gas companies throughout the Permian Basin.
Locke Lord LLP served as legal counsel to the shareholders of SPL during the transaction.