PermianLide - Comprehensive Analysis Report

Summary

PermianLide is a long-standing manufacturer of above-ground storage tanks and processing equipment, primarily serving the oil and natural gas exploration and production industry. Founded in 1976 and headquartered in Odessa, Texas, with additional facilities in Troy, Texas, and South Dakota, the company operates with core values emphasizing reliability, integrity, and professionalism. PermianLide is committed to safe work practices and environmental stewardship through its robust EH&S program. Following a strategic acquisition in 2020 by New Permian Holdco, LLC (supported by New Mountain Capital), the company has strengthened its focus on providing comprehensive, one-stop, turn-key solutions through expanded capabilities in modular unit and skidded systems production, aiming for increased efficiency and simplified supply chains for its customers.

1. Strategic Focus & Objectives

Core Objectives

Provide Turn-Key Solutions: To deliver comprehensive, one-stop solutions to customers in the oil and natural gas industry, simplifying their supply chain.
Enhance Efficiency and Reduce Costs: To develop and offer newly engineered, high-specification integrated solution offerings that lead to lower costs and increased efficiency in the final product.
Maintain Product Excellence: To continuously engineer and manufacture best-in-class above-ground storage tanks and wellsite processing equipment.
Drive Market Leadership: To uphold strategic direction for operations, financial performance, and business growth, aligning with industry standards for market leadership.

Specialization Areas

Manufacturing Expertise: Specialization in the manufacturing of steel and fiberglass storage tanks, treaters, separators, and vessels.
Custom Engineering and Design: Offering custom engineering and design capabilities for a wide range of tank and equipment requirements.
Integrated Logistics: Providing a dedicated trucking operation equipped with knuckleboom cranes for efficient delivery and installation of tanks and equipment within wellsite containment walls, reducing reliance on third-party services.
Modular Unit and Skidded Systems: Strategic investment and expansion in the production of modular units and skidded systems for integrated solutions.

Target Markets

PermianLide primarily targets the oil and natural gas exploration and production industry. This includes companies requiring above-ground storage tanks and wellsite processing equipment.

2. Financial Overview

Funding History

PermianLide, formerly known by the brands Permian Tank & Manufacturing and Lide Industries, faced significant market pressures, leading to a Chapter 11 bankruptcy filing in July 2020.
Pre-Bankruptcy Funding: Prior to these events, PermianLide had raised a total of $34.2 million in funding.
Acquisition and Exit from Bankruptcy: In December 2020, the company successfully exited bankruptcy through an acquisition by New Permian Holdco, LLC, an entity supported by New Mountain Capital.
Amount: The acquisition was for $30 million.
Key Investors: New Mountain Capital, as a secured creditor, credit bid the assets.
Fund Utilization: New Permian Holdco, LLC provided incremental financing to stabilize the company post-acquisition.
Impact on Company Growth: The acquisition included a commitment of additional growth capital, positioning the company for strengthened operations and future expansion, particularly in modular unit and skidded systems.
Estimated Annual Revenue: The company's estimated annual revenue ranges from $40.7 million to $120.0 million.

3. Product Pipeline

Key Products/Services

Steel Storage Tanks:
Description: Manufactured above-ground tanks made from steel.
Development Stage: Established product.
Target Market/Condition: Oil and natural gas exploration and production for various fluid storage needs.
Key Features and Benefits: Durable, robust, and available with custom engineering for specific operational requirements.
Fiberglass Storage Tanks:
Description: Above-ground tanks constructed from fiberglass.
Development Stage: Established product.
Target Market/Condition: Oil and natural gas industry, particularly where corrosion resistance is beneficial.
Key Features and Benefits: Lightweight, corrosion-resistant, and can be custom engineered.
Treaters:
Description: Equipment used in oil and gas production to separate water and other impurities from crude oil.
Development Stage: Established product.
Target Market/Condition: Wellsite processing for improving crude oil quality.
Key Features and Benefits: Efficient separation processes, contributing to cleaner oil production.
Separators:
Description: Equipment designed to separate mixtures of oil, gas, and water produced from wells.
Development Stage: Established product.
Target Market/Condition: Wellsite processing to separate phases of well fluids.
Key Features and Benefits: Multi-phase separation for optimized production.
Vessels:
Description: Various pressure vessels and storage vessels for wellsite operations.
Development Stage: Established product.
Target Market/Condition: Diverse needs within oil and natural gas processing and storage.
Key Features and Benefits: Designed to industry standards, capable of handling specific pressure and volume requirements.
Custom Engineering & Design Services:
Description: Tailored design and engineering of tanks and processing equipment to meet specific client needs.
Development Stage: Ongoing service capability.
Target Market/Condition: Customers with unique operational challenges or specific capacity requirements.
Key Features and Benefits: Provides bespoke solutions, optimizes performance, and integrates with existing infrastructure.
Modular Units and Skidded Systems:
Description: Integrated, pre-fabricated systems that combine multiple processing equipment components on a single skid or modular platform.
Development Stage: Post-acquisition expansion focus, actively developing.
Target Market/Condition: Customers seeking efficient, compact, and rapidly deployable wellsite solutions.
Key Features and Benefits: Simplified supply chain, single point of contact, lower costs, increased efficiency, and faster deployment.
Dedicated Trucking and Installation Services:
Description: In-house logistics operation with knuckleboom cranes for delivery and placement of equipment.
Development Stage: Established service.
Target Market/Condition: All PermianLide customers requiring transportation and installation of heavy equipment.
Key Features and Benefits: Reduces need for third-party crane services, streamlines delivery, ensures proper installation within wellsite containment, and enhances overall project efficiency.

4. Technology & Innovation

Technology Stack

Core Platforms and Technologies: PermianLide utilizes established and advanced manufacturing techniques for steel and fiberglass fabrication.
Proprietary Developments: A key differentiator is its capability in custom engineering and design for storage tanks and processing equipment.
Scientific Methodologies: The company's strategic investment post-acquisition focuses on enhancing modular unit and skidded systems production. This involves integrating various components into newly engineered, high-specification solutions.
Technical Capabilities: The drive towards integrated solution offerings is aimed at providing customers with a simplified supply chain and a single point of contact, resulting in lower costs and increased efficiency in the final product.

5. Leadership & Management

Executive Team

Chris Maier
Position: Chief Executive Officer (since 2023)
Professional Background: Senior Consultant at Protiviti, Manager at Huron, Associate at Spindletop Capital, Advisor for TrackOFF.
Notable Achievements: Previously served PermianLide as Chief Financial Officer, Advisor, and Chief Restructuring Officer. Holds an MBA from The University of Texas at Austin and a BBA in Finance and German from James Madison University. Also studied European Business at the University of Antwerp.
Key Contributions: Instrumental in leading the company's financial and operational restructuring, and currently drives its strategic direction as CEO.
LinkedIn: `linkedin.com/in/christopher-maier-21226b6`
Michael Haynes
Position: President
Professional Background: Noted as Company President in December 2020 during the company's exit from Chapter 11.
Key Contributions: Provides leadership in the company's operational and strategic initiatives.
Ethan Hammons
Position: Vice President of Business Development
Key Contributions: Focuses on identifying and pursuing new business opportunities and strategic growth.
Kolton Northcutt
Position: VP of Finance
Key Contributions: Manages the financial operations and fiscal planning of the company.

Recent Leadership Changes

Chris Maier transitioned into the role of Chief Executive Officer in 2023. Prior to this, he had significant experience within PermianLide, serving as Chief Financial Officer, Advisor, and Chief Restructuring Officer. This transition marks a continuation of his strategic influence over the company's direction.

6. Talent and Growth Indicators

Hiring Trends and Workforce

Employee Count: Employee figures for PermianLide vary, with reports suggesting numbers between 79 and 151, and another indicating 200-500 employees.
Growth Trajectory: One report suggests an 11% growth in employee count over the past year.
Compensation: As of January 2026, the estimated average annual salary for PermianLide employees in the United States is $90,987, typically ranging from $80,062 to $102,819 annually, reflecting diverse roles and experience levels.
Key Roles: Salary ranges are noted for roles such as Senior Vice President & Chief Financial Officer, Vice President and General Manager, Executive VP, Sales, and various managerial and directorial positions, indicating a structured and professional workforce.

7. Social Media Presence and Engagement

Digital Footprint

PermianLide maintains a professional presence on LinkedIn, which is directly linked from their company website. This platform serves as a primary channel for:
Professional Networking: Connecting with industry professionals and potential clients.
Product Showcase: Highlighting their range of above-ground storage tanks, processing equipment, and innovative solutions.
Company News & Updates: Sharing official announcements, project highlights, and corporate developments.
Job Postings: Utilizing the platform for recruiting and talent acquisition.

8. Competitive Analysis

Major Competitors

PermianLide operates within a competitive landscape serving the oil and natural gas industry. Key competitors in the storage tank and processing equipment market include:
CST: A leading global manufacturer of factory-coated steel storage tanks, silos, and aluminum domes.
CB&I: A global company specializing in providing solutions for the energy infrastructure, including storage tanks and terminals.
Highland Tank: A manufacturer of steel storage tanks for various industries, including oil and gas.
Fox Tank: Produces a range of storage tanks and pressure vessels for the oil and gas sector.
SPOC Automation: Focuses on automation and artificial lift solutions for oil and gas production.
Diversified Gas and Oil Corporation: Primarily an independent oil and natural gas producer, but competes within broader aspects of the energy sector infrastructure.
Hawk Consultants: Likely offers consulting or specialized services that may overlap or compete with parts of PermianLide's offerings.

9. Market Analysis

Market Overview

The oil and gas storage service market is a substantial sector, critical for supporting exploration and production activities.
Total Addressable Market Size: The market for oil and gas storage services is significant globally, driven by continuous demand for hydrocarbons and the need for robust infrastructure.
Growth Potential: Growth is influenced by macroeconomic factors, global energy demand, and geopolitical stability, along with the recovery and expansion in oil and natural gas production.
* Key Market Trends: Companies strategically utilize storage to manage and benefit from price fluctuations in crude oil and natural gas. There is a growing emphasis on integrated solutions and modular systems for efficiency.