Intervale Capital Announces the Formation of Energes Oilfield Solutions
HOUSTON, Feb. 18, 2014 /PRNewswire/ -- Intervale Capital ("Intervale"), an energy-focused private equity firm, has capitalized a new platform company called Energes Oilfield Solutions ("Energes" or the "Company"). The Company's growing service suite includes flowback and well-testing, H2S monitoring and safety services, and water transfer. Headquartered in Houston, Texas, Energes has two field locations in South Texas and a third in development in West Texas.
Gary Coates, previously a Vice President at Tetra Technologies, serves as Energes' President and Chief Executive Officer. Gary brings over 25 years of oilfield experience to the Company and has recruited a team of veteran operational and sales professionals. Mr. Coates commented, "We see a huge opportunity to turn Energes into a leading well flow management business. Since its inception, Energes has received an overwhelmingly positive reception from its customers. We look forward to supporting our customers' growth in several new basins this year."
As part of its formation, Energes purchased the assets of Mesa Safety Solutions, a provider of Hydrogen Sulfide (H2S) monitoring, safety training, and water transfer services. Mesa was founded in 2001 by James Brymer and is headquartered in Jourdanton, Texas. Mesa's operations serve as the basis of Energes' safety and water management operating divisions. Mr. Brymer remarked, "I am thrilled to partner with Energes to take our business to the next level. Safety and water management complement well testing and flowback operations, so we can now provide our customers with a more comprehensive service offering."
Erich Horsley, Partner at Intervale, added, "We are excited to take Energes into new basins across North America. Gary's extensive experience, technical expertise, and relationships in the oilfield will be tremendously beneficial as Energes executes its growth strategy. We are committed to supporting the company's long-term geographic and product line expansion."
About Energes Oilfield Solutions:
Energes Oilfield Solutions, LLC ("Energes" or "the Company") consists of three divisions: 1) well-flow control; 2) water management; and 3) safety services. The growing product suite includes critical flowback and well-testing services, water-transfer (poly-pipe and lay-flat hose) and H2S monitoring. Energes is headquartered in Houston with field locations in South Texas. Company website: http://energes.com/
About Intervale Capital:
Intervale Capital is an energy-focused private equity firm with offices in Boston and Houston. Intervale invests exclusively in middle-market oilfield services and manufacturing companies and related technologies. The firm has raised over $650 million of committed capital since its inception in 2006 and is currently investing from its second fund.
Intervale portfolio companies include Aegis Chemical Solutions (production chemicals and ClO2 services), Allied Oil & Gas Services (cementing and acidizing services), Antelope Oil Tools (casing and cementation hardware), Certus Energy Solutions (downhole tool rental), Epic Lift Systems (artificial lift), Proserv Group (offshore and subsea equipment and services), Team Oil Tools (completion tools and services) and Tier 1 Energy Solutions (wireline and completion tool running services). Company website: http://www.intervalecapital.com/
SOURCE Intervale Capital