Simmons advises Motley Services, LLC through $148 million aquisition

HOUSTON -- Motley Services, LLC, a portfolio company of District 5 Investments, LP (D5), has been acquired by KLX Energy Services Holdings, Inc. for $148.2 million, including $139.2 million in cash and $9.0 million in stock. KLX Energy Services financed the transaction with a high-yield offering launched concurrently with announcement of this transaction.

Founded in 2010, Motley is a Permian-focused completion services company. The company primarily provides large-diameter coiled tubing services. The company also provides wireline services and complementary completion services such as pump-down and thru-tubing. Motley's blue-chip customer base includes many of the largest and most active E&P operators in the Permian Basin.

D5 is an energy-focused private equity firm, based in Texas, that pursues lower middle market oil and gas and oilfield services investments in North America.

KLX Energy Services is a leading U.S. onshore provider of completion, intervention and production services, and has over 35 service facilities located in major U.S. shale basins, including the Permian, Eagle Ford, Rockies, Bakken, Marcellus, Utica and MidCon.

Simmons Energy, A Division of Piper Jaffray, served as the exclusive financial advisor to Motley in the transaction.