Gordon Brothers to lead liquidation of Ranger Energy Services

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Boston, October 26, 2021 (GLOBE NEWSWIRE) – Gordon Brothers, the global consultancy, restructuring and investment firm, will act as agent for Ranger Energy Services Inc. in the disposal of surplus petroleum service equipment and operating assets of the company purchased through the bankruptcy process of Basic Energy Services Inc ..

Gordon Brothers will divest assets including, but not limited to, fleets of light vehicles and tractors, overhaul platform engines and transmissions and related ancillary and support equipment surplus to Ranger’s continuing operations. Energy Services.

“Gordon Brothers is delighted to provide a creative solution and to assist Ranger in the disposition of these assets,” said Bob Maroney, President, Commercial and Industrial at Gordon Brothers. “This is an exciting part of a larger strategy to create value, maximize liquidity and support our client’s growth. “

“Ranger Energy Services looks forward to working with Gordon Brothers in a joint effort to quickly and effectively monetize this significant amount of inactive assets,” said Stuart Bodden, CEO of Ranger Energy Services. “We appreciate Gordon Brothers’ vision to bring a creative and structured solution to the table and facilitate an additional source of value capture in our core energy services transaction.

Gordon Brothers specializes in structuring complex, multi-asset transactions in the commercial and industrial sector, serving as a strategic partner to assist businesses and their investors in times of transformation. In virtually every business and industry sector, the company draws on decades of experience buying, selling, operating and valuing assets in North America, Australia, Brazil, Europe, Japan and UK.

About the Gordon brothers

Since 1903, Gordon Brothers (www.gordonbrothers.com) has been helping lenders, operating executives, advisors and investors advance change. The company brings a powerful combination of expertise and capital to its clients, developing customized solutions on an integrated or stand-alone basis in four service areas: appraisals, disposals, operations and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, trade and industrial sectors to get the most out of their assets. Gordon Brothers conducts more than $ 70 billion in disposals and appraisals annually. Gordon Brothers is headquartered in Boston and has more than 30 offices on five continents.

About Ranger Energy Services Inc.

Ranger is an independent provider of well service platforms and related services in the United States, with a focus on unconventional horizontal well completion and production operations. Ranger also provides the services necessary to bring and maintain a well in production. The Processing Solutions segment is engaged in the rental, installation, commissioning, start-up, operation and maintenance of MRU units, stabilizers and liquid natural gas storage and ‘related equipment.



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