IB---Cimarron

Transactions

Cimarron Acid Service

Cimarron Acid & Frac is a leading provider of hydraulic pressure pumping and acid stimulation services to customers in Western Oklahoma and Southern Kansas. The company primarily serves well capitalized independent exploration & production companies and is led by founder Trent Watkins.

In September, 2013, Iroquois Capital Group acted as financial advisor to Annapurna Capital Management in its acquisition of Cimarron. Iroquois helped Annapurna structure and execute a sophisticated capital plan that included equipment financing, junior debt and seller financing. The transaction was structured with a goal of minimizing the initial equity contribution.

The junior debt was provided by Iroquois Financial Partners. Iroquois’ investment banking team leveraged this affiliated debt fund to round out the capital structure, ensuring that a successful deal could be closed within a quick timeline. The Cimarron transaction illustrates the synergies that Iroquois clients can realize from Iroquois’ investment bank and Iroquois Financial Partners.

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