Crude Processing, Inc. provides a number of services for its customers in the Williston Basin of North Dakota and Montana. Its core services include recovery of junk oil and frac water heating. The Company was founded in 1980, and was owned by Mr. Jim Davenport and Mr. Dale Branson.
The owners were familar with other previous clients of DAG in the region. They called and explained that they would like to consider a sale. Mr. Davenport was interested in retirement, and Mr. Branson was interested in continuing to run the business, but wanted to monetize his equity position. After discussion with previous DAG clients, the owners elected to engage DAG for a sale.
DAG defined a group of private equity and industry candidates and pursued all that we felt would have an interest in CPI. After discussion with a number of interested parties, DAG negotiated a transaction with CCS Midstream, Inc. CCS is a privately owned Canadian company, and had an objective of entering the Williston Basin to expand its U.S. presence.
All the CPI employees were retained by CCS. Mr. Dale Branson now serves as division manager and Mr. Jim Davenport serves the Company on a consulting basis.