EIV Capital Invests $20 Million in Gazelle Transportation
Houston-based investment firm EIV Capital has invested $20 million in Gazelle Transportation, a company based in Bakersfield, California, that provides crude oil transportation, water and waste hauling and portable storage tank rentals primarily within California.
Terms of the transaction were not disclosed.
Ron Lallo, CEO of Gazelle, said the funds from EIV will be used to support the company’s growth in providing transportation and logistics services.
“Securing a knowledgeable partner like EIV at this point in the cycle is a testament to the quality of our team, our staying power and the passion we share to be the very best, while delivering incident-free service to the energy industry,” Lallo said in a statement announcing the transaction Oct. 12.
Gazelle was established in 1993, and Lallo has owned the business since 2004.
The company operates a fleet of 141 tractors and 183 trailers, according to data reported by Gazelle to the U.S. Department of Transportation.
