Houston’s Thigpen Energy grows tenfold in six months
HOUSTON, Texas — After experiencing an eye-popping tenfold growth the past six months, Thigpen Energy will spinoff from its current holding company TRF Energy Solutions to become its own standalone entity.
Thigpen Energy’s monumental growth is attributable to a switch in focus earlier this year. Instead of focusing on the exploration and production fueling market, the company started to concentrate on industrial and pipeline integrity projects that require large-scale portable fueling solutions.
The spinoff will occur Oct. 1, and the company will then become a portfolio investment for Intervale Capital, a Houston and Boston-based private equity firm. Current CEO Sam Thigpen, who founded Thigpen Energy Services in 2005, will remain on the board of directors.
Source: Houston Business Journal