Avisto Capital Partners has acquired Tulsa-based oil and gas accounting firm, The Resource Group (TRG), as part of an expansion of its strategic advisory and bookkeeping services targeted to serve the energy market.
Image: Avisto Capital Partners acquires The Resource Group. Photo: Courtesy of skybeacon/FreeImages.
This is Avisto’s second acquisition of a back office advisory service provider in the epicenter of the U.S. crude oil and natural gas producing region. Avisto’s first acquisition, Eddye Dreyer Financial Services (EDFS), based in Dallas, Texas, provides back office support and consulting to clients across the region, focusing on setup, optimization and consulting for clients using WolfePak accounting software. With the addition of TRG, Avisto will be positioned to provide best-in-class industry knowledge for both OGSystems (OGSYS) and WolfePak users, two, top-tier software solutions in the oil and gas industry.
“The addition of The Resource Group to our portfolio of back office advisory companies marks an important milestone for Avisto,” said Bruce Smith, Avisto Capital Partners CEO. “By developing a connected network of regional experts, we are taking the next step towards expanding our solution-based services for energy clients in other regional markets. By supporting two software platforms with strong brands, we can offer alternative solutions and customize the work to add the greatest value to our clients or equity sponsors.”
Scott Phipps, Avisto Capital Partners Senior Vice President Development states that “although the acquisition became effective July 1, Avisto appreciates the great relationships that exist between TRG staff and their clients and has no plans to make personnel changes.” The TRG team, consisting of more than 50 professional and administrative associates will remain with the firm at its current location at 5100 E. Skelly Drive. Phipps continued, “Liz and Amanda have built a top-notch firm here in Tulsa and clients appreciate the value the firm adds. We are excited to be able to bring their solid market reputation to new clients and look forward to finding other ways to expand their service capabilities and best practices to all Avisto’s clients.”
Source: Company Press Release