KLX Energy Services announced that it has acquired all of the assets of Wolfpack Rentals, a Texas-based provider of surface rental solutions to oil and gas exploration and production companies, for total consideration of $17 million. The acquisition is expected to be immediately accretive on all financial metrics and to strengthen KLX’s presence in major U.S. land basins.
Wolfpack generated revenue of $38.2 million and adjusted EBITDA of $5.8 million in 2025. KLX expects to realize annual synergies exceeding $2 million through overlapping operations in two existing accommodations districts and through corporate cost savings. Following the realization of synergies, the transaction implies an acquisition multiple in the low 2x range.
Founded in 2005, Wolfpack operates eight facilities across South Texas, West Texas, East Texas, and the Northeast, including West Virginia and Ohio. Its asset base includes approximately 350 accommodations trailers and command centers, 14 proprietary water filtration systems with exclusive North American oil and gas intellectual property rights, and a broad range of ancillary surface rental offerings such as communications and connectivity solutions, power generation, lighting, surveillance, custom structures, and sanitation services.
KLX said the acquisition expands its scale and enhances its service capabilities for shared customers while providing access to a differentiated and difficult-to-replicate asset base. Stewart Cooper, Chief Executive Officer of Wolfpack, will join KLX to support the integration process and help drive future growth initiatives.
The transaction was structured with $14 million payable at closing and two deferred payments of $1.5 million each due six and twelve months after closing. The deferred payments may be made in cash or KLX common stock at the company’s discretion. The acquisition is being financed through a combination of capital lease financing, asset-based lending supported by acquired accounts receivable, and cash on hand.
KLX operates more than 60 service and support facilities throughout the United States and provides diversified oilfield services supporting drilling, completion, production, and intervention activities. The company said the acquisition advances its long-term growth strategy and enhances its ability to deliver mission-critical services to customers operating in technically demanding wells.
KEY QUOTES:
“We are pleased to welcome Stewart Cooper and the entire Wolfpack team to KLX. Wolfpack has built a strong, diversified platform with a blue-chip customer base supported by a culture centered on accountability, safety, and customer service. Wolfpack operates in four areas, two of which overlap directly with our existing KLX Accommodations areas, creating immediate and compelling opportunities to realize synergies, increase scale, and enhance service and product offering for our shared customers. Wolfpack reported 2025 revenue of $38.2 million and Adjusted EBITDA of $5.8 million, and we expect annual synergies in excess of $2 million as we bring the two platforms together.”
Chris Baker, President And Chief Executive Officer, KLX Energy Services
“The transaction structure is both cash flow accretive and deleveraging and will create meaningful, durable value for our stockholders. Stewart Cooper will join KLX to assist with integration and drive continued growth, and we look forward to the contributions of the Wolfpack team as part of the KLX family.”
Chris Baker, President And Chief Executive Officer, KLX Energy Services
“We are excited to join KLX and believe the combination creates a stronger, more capable platform to serve our E&P customers across major U.S. land basins. KLX’s scale and complementary service offerings position us to deliver even greater value to our customers, and we look forward to building on what the Wolfpack team has created over the past 20 years.”
Stewart Cooper, Chief Executive Officer, Wolfpack Rentals
