Frontier Oilfield Services Inc. executed an Asset Purchase Agreement to acquire all of the assets and business operations of L & R Tank Trucks Inc. and Stark and Stark Equipment Inc. of Bowie, Texas for the sum of $10.3 million subject to certain adjustments, at the time of closing, of L & R and Stark's indebtedness, seller's expenses and EBITDA adjustments.
Tim P. Burroughs, president of Frontier Oilfield Services Inc. stated, "The acquisition of L & R Tank Trucks and Stark and Stark Equipment expands Frontier's presence in the liquids-rich Northern Barnett Shale, complements our recent acquisition of Coffman Tank Trucks located in Chico, Texas and increases our strategic relationships with other major E & P companies."
Source: Frontier Oilfield Services
