Allegiance Capital Corporation, a Dallas-based private M&A investment bank specializing in the lower middle market, announced today that it has facilitated the acquisition of its client Chico Coffman Tank Trucks, Inc., including its subsidiary, Coffman Disposal, LLC for a sum of $17,408,348.00 by Frontier Oilfield Services. Allegiance Capital acted as the exclusive financial advisor to Chico Coffman Tank Trucks, Inc.

Coffman is a salt water disposal company with its primary base of operations located in North Texas with its trade and service area being in the Barnett Shale oil and gas field located in North Central Texas.

Coffman had audited 2011 revenues on $40.5 million with an EBITA of $3,263,929. Coffman’s assets are currently valued on its financials at $24 million and consist of accounts receivables, rolling stock (trucks and trailers), six permitted disposal wells and the headquarters’ real property.

“Allegiance Capital was pleased to represent Coffman in this transaction. There are powerful synergies in combining these two fine companies and we see these as a winning strategy for everyone,” commented John R. Sloan, Vice Chairman at Allegiance Capital Corporation.

Allegiance Capital Corporation’s Scott Sims, Vice President added, “J.D. Coffman has built a highly successful business, which we believe will continue to thrive under Frontier’s ownership.”

Allegiance Capital Corporation is currently involved in several engagements with other oil and gas companies. To view a list of current deals, visit For information on selling a business, call 214.217.7750.

About Chico Coffman Tank Trucks, Inc.

Founded in 1968 by Jimmy Coffman Sr., Coffman Tank Trucks is operated by his son, J.D. Coffman, who began working in the family’s water hauling and disposal company as a roustabout in 1976, fresh out of High School. Coffman has over 300 employees and runs 80 trucks 24/7. For more information:

About Frontier Oilfield Services

Frontier Oilfield Services, Inc.’s (OTCQB:FOSI) primary business focus on wastewater recovery and disposal has been selected due to the recurring nature of the revenues, the relatively high margins and the strong barriers to entry by potential competitors because of the limited supply of state permitted commercial disposal wells. In addition, as a result of breakthroughs in recent technology (the process by which shale oil and gas is extracted), exploration & production companies are faced with increasing volumes of, and thus challenges with regard to the disposal of produced fluids and salt water. Frontier’s acquisition strategy in this highly fragmented, decentralized and essential sector of the energy services market, positions Frontier for potentially rapid expansion and substantial growth in the future.

About Allegiance Capital

Allegiance Capital Corporation is an investment bank specializing in financing and selling businesses in the lower middle market. Allegiance Capital Corporation was recently named third on the list of 2011 Largest Investment Banking Firms in North Texas (Dallas Business Journal). Allegiance Capital Corporation has won multiple awards recognizing the value it delivers to clients. Examples include: 2009 Dealmaker of the Year (Dallas Business Journal), 2008 Boutique Investment Bank of the Year (M&A Advisor), and 2006 Investment Bank of the Year (Dallas Business Journal). Subscribe to the Capital Ideas blog by visiting: Follow Allegiance Capital Corporation on LinkedIn and Twitter: @ALLCAP.