Thigpen Energy spins-off from TRF Energy Solutions

Thigpen Energy has announced that it is re-launching its Thigpen Energy brand. 

Effective 1 October 2015, Thigpen Energy will be spun out of TRF Energy Solutions and will become a stand-alone portfolio investment for Intervale Capital. 

Earlier this year, the management team of Thigpen Energy decided to change its market focus to industrial and pipeline integrity projects requiring large scale portable fuelling solutions, and reallocate resources away from the E&P fuelling market.

Following increased momentum in the company’s fuelling services business, the Board of Directors agreed to spin Thigpen Energy out of the TRF Energy Solutions holding company as a stand-alone portfolio investment in order to provide more robust capital support for the steady growth of the business.

Sam Thigpen, Founder and CEO of Thigpen Energy, will transition from his operational role and join the company's Board of Directors.  Jim Schauer will assume the role of President and CEO.

Thigpen Energy also confirmed that Sam Thigpen has accepted a role as Vice President and General Manager of Lifecycle Products and Services at Chart Industries Inc. Energy and Chemicals.  This new role will allow him to apply an industry recognised management style to the development of a new service division within the Chart E&C business. 

Sam Thigpen said: "The re-launch of the Thigpen Energy brand marks an exciting new chapter in the company's evolution. Jim has been instrumental in building our core business targeting the utilities, industrial and pipeline markets, and I cannot think of anyone more qualified to maintain Thigpen Energy's quality of service commitment and grow the business consistent with the ideals and principles that are the foundation of our corporate reputation and brand."

Jim Schauer added: "Thigpen Energy's positive corporate reputation is based on its ten-year track record of delivering reliable, effective and robust solutions to utilities, pipelines and industrial customers. The spin-out solidifies our commitment to our most important markets. Our team is motivated to build on this foundation of service excellence, which is a vital part of our differentiated offering. We are fortunate to have Sam on the Board, as his guidance, perspective and market insight will be instrumental to facilitating our corporate development as we grow."

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25092015/thigpen-energy-re-launches-brand-1362/