Endurance was created to pursue growth opportunities in the artificial lift space, and the Company is complemented by other artificial lift-related businesses already operating under Synergy: BSC Rod Lift Solutions, Catalyst Artificial Lift, and Multi Products Company. The Company views the acquisition of JCPS and CDI as an exciting step in its long-term growth strategy. Synergy President and CEO Dan Newman said, "We are eager to welcome the JCPS and CDI employees to our organization and partner with them as we grow Endurance into a premier provider of artificial lift products and services."
Synergy, the parent company of Endurance, is owned by funds managed by private equity firms Crestview Partners ("Crestview") and B-29 Investments ("B-29"). Crestview and B-29 are excited about this acquisition by Endurance and look forward to the Company building out its platform of artificial lift products and services.
About Synergy Energy Holdings, LLC
Synergy is the parent company to multiple operating entities, including: Endurance Lift Solutions, which offers design, installation, service and repair of fiberglass and steel sucker rods and downhole rod pumps; BSC Rod Lift Solutions, which provides downhole pump installation and repair services through its network of pump shops throughout the U.S.; Catalyst Artificial Lift, which manufactures and distributes artificial lift parts; Multi Products Company, which manufactures and distributes plunger lift systems and associated equipment; and Bell Supply Company, which sells pipes, valves, and fittings to operators through its network of retail supply stores throughout the U.S.
About Crestview Partners
Founded in 2004, Crestview Partners is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $7 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview's senior investment professionals primarily focus on sourcing and managing investments in each of the specialty areas of the firm: media, energy, financial services, and industrials. For more information: www.crestview.com.
About B-29 Investments
B-29 Investments, LP is a family-owned private equity firm investing in private and public companies. Since B-29's inception in 1997, the firm has invested capital focused on companies operating in oilfield services, exploration and production and midstream infrastructure within the energy chain. More information about B-29 can be found at www.b29investments.com.
Daniel Yunger or Jeff Taufield
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SOURCE Crestview Partners