SitePro today announced a financing round led by Cottonwood Venture Partners (CVP). The financing will enable SitePro add increased value to its...
SitePro Announces Additions To Management Team Focused On Growth
SitePro adds three new members to its management team, directly related to its aggressive growth and acquisition strategy in the digital oilfield.
"LUBBOCK, Texas, Aug. 6, 2019 /PRNewswire/ -- SitePro, a digital oilfield solutions provider focused on delivering digital transformation solutions for the upstream oil and gas industry through its real-time, cloud-based automation and IoT software solutions, today announced the addition of three new members to the senior management team. Johnathan Cox is joining as Chief Operating Officer; Josh Cobb as Chief Financial Officer, and Brendan Bean as Vice President of Corporate Development. Additionally, Michael Chavez has been promoted to Vice President of Sales and Marketing.
The expansion of the SitePro management team is directly related to the Company's aggressive growth and acquisition strategy. With the expansion into new geographic markets diversifying their customer base, SitePro is poised for exponential growth and is specifically targeting accretive acquisition opportunities.
"SitePro's incredible growth with our real-time solutions in the digital oilfield, and future expansions, necessitated that we assemble a management team with a history of successfully scaling up an enterprise. The Company's desire to be the premier digital transformation solutions provider means organizing our management team around individuals with strong industry experience and M&A experience. The leadership and expertise that Johnathan, Josh, and Brendan each bring to our team will allow us to advance our vision of a digital oilfield and bring efficiencies to even more clients, while Michael's work positioning the Company as a leader in the industry, expanding its presence, and identifying new areas of opportunity has been crucial to our growth to this point," said David Bateman, Chairman of the Board and Co-Chief Executive Officer of SitePro.
Mr. Cox will be responsible for SitePro's operational activities which include field operations, the Company's Remote Operations Center (ROC), HSE, Automation Engineering, Supply Chain, and project management. Mr. Cox has extensive oil and gas operations and logistics experience with a focus on crude oil and oilfield wastewater operations. Prior to joining SitePro, Mr. Cox was CEO and co-founder of Juniper Energy Solutions, an oil and gas supply chain solutions provider, and before that he was the Senior Vice President of the Transportation Logistics Group at NGL Energy Partners. Mr. Cox's background also includes over 15 years of various technology roles in different industries at the executive level, including product management, software development, and systems engineering. Mr. Cox's career has included a unique combination of energy and technology experience that has maximized business results for the entities that he has served.
Mr. Cobb, the Company's new Chief Financial Officer, joins the team to manage the financial aspects of the Company, including the reporting and analysis of historical performance, treasury management and the development of revenue and cash flow projections. Mr. Cobb also works with other members of the management team and the Board of Directors to evaluate and execute strategic growth initiatives and capital structure objectives. Prior to SitePro, Mr. Cobb was the founder and managing member of Clearfork Energy Advisors where he worked with management teams to develop corporate growth strategies and financial models. Prior to forming Clearfork, Mr. Cobb served as an investment banker at Westlake Securities for over 10 years where he primarily focused on M&A and capital raising transactions in the energy sector, while at Westlake he was an advisor to SitePro in conjunction with the Company's financing with Cottonwood Venture Partners. Mr. Cobb received his Bachelor of Business Administration and Master in Professional Accounting from the University of Texas at Austin. "We had the pleasure of working with Josh during our initial investment in SitePro. With a strong background in finance and M&A, Josh brings an impressive skillset to the Company. We are delighted to have Josh as part of the executive team," said Ryan Gurney, Managing Partner of Cottonwood Venture Partners.
Mr. Bean has experience in the oilfield at Petro Waste Environmental LP, a private equity backed oil and gas solid waste processing and disposal company, which he joined at its infancy and was integral in its start and growth phases, and was a key contributor in its successful exit to Waste Management, Inc. While at Petro Waste, he was responsible for the due diligence on multiple greenfield opportunities and joint ventures, market analysis, investor reporting, and financial analysis. Mr. Bean's role at SitePro is focused on market strategy, mergers and acquisitions, capital raises, investor reporting, and financial analysis. Brendan received his BBA in Finance with a Finance Certificate in Energy from Texas Tech University.
In his new role, Mr. Chavez's responsibilities will encompass sales team leadership, accelerating SitePro's revenue through geographic expansion, development of new channels, and overseeing the company's marketing and business strategies. Before joining the SitePro team, Mr. Chavez was an integral member of Digital H2O, a SaaS based Oilfield Water Management and Analytics software platform, where he led Sales, Marketing, and Business Development efforts. Prior to joining Digital H2O Michael helped jump start WellAware, a SaaS based mobile platform for real-time oilfield remote monitoring, as Director of Operations and Business Development. His prior experience has made him an expert in identifying needs in the market and addressing them with highly scalable and valuable software solutions.
The success of the Company over the past few years has allowed Mr. Bateman and his management team to look beyond a model of organic growth, toward one of aggressive expansion. As the oilfield automation market begins to consolidate, SitePro is positioned to emerge as the dominant provider through its unique offering that digitally transforms the industry.
SitePro is an energy technology company focused on delivering digital transformation solutions for the upstream oil and gas industry. Since launching as a service product in 2012, SitePro has become one of the fastest growing automation and digital solutions in the nation, offering a logistical advantage for energy's modern age to meet the digital technology needs of the industry. SitePro was built for the energy industry by a team who understands the oilfield and the need to reduce costs while increasing efficiency and production. The SitePro staff consists of highly knowledgeable industry professionals from engineering, computer science, field service and business backgrounds.