GL Trucking & Rental, Inc. is an oilfield service company which provides trucking services, accommodation units, and rental equipment to oil and gas operators, as well as service companies who are active in the Williston Basin of North Dakota and eastern Montana. GL was founded in 1979 by Lawrence and Gerrie Lippert.
The Dillard Anderson Group (“DAG”) was referred to GL by an active client who operates in the same region. DAG called on Mr. and Mrs. Lippert, and quickly obtained an understanding of GL’s business and the financial goals of the owners. The Lipperts checked the numerous references provided, and, based on feedback from previous clients, elected to engage for a sale.
DAG identified a specific group of strategic and private equity candidates. An important candidate was Stallion Oilfield Services, Inc. of Houston. DAG was familiar with the Stallion business model, and felt that GL was a good fit in their niche. Other candidates were carefully screened, but Stallion emerged with the best overall valuation. The purchase price for the assets of GL was a combination of cash and a note. The price was not publicly disclosed. Mr. and Mrs. Lippert will continue in a transitionary role before settling into their goal of retirement.