NEW YORK, Nov. 7, 2014 /PRNewswire/ -- Crestview Partners ("Crestview"), a $6 billion private equity firm with a strong energy focus, today announced a strategic relationship with B-29 Investments, LP ("B-29") to form Endurance Lift Solutions, LLC ("Endurance").  Endurance is dedicated to opportunities in the artificial lift industry.  Crestview embarks upon this opportunity alongside its senior advisor and longtime co-investor, John Schmitz, the Chairman and CEO of Select Energy Services, and his family office, B-29.  The focus of Endurance will be to build an artificial lift platform offering comprehensive production enhancement services across the life of oil and gas wells.  

Under the terms of the relationship, Crestview Partners III, L.P. and its affiliated funds, along with funds affiliated with B-29, will invest up to $200 million in the equity of Endurance.  

Endurance will seek to partner with growing companies in the artificial lift industry and strategically deploy capital to help these companies drive the next stage of their growth.  Endurance has already identified a number of attractive candidates and expects to announce its first artificial lift acquisition in the coming weeks.

John Schmitz said, "We welcome this strategic relationship with Crestview as we take advantage of an exciting time in the artificial lift industry.  There are a host of growing businesses in this sector to which Endurance can serve as a transformational partner.  Crestview and B-29 have extensive experience building large and successful energy companies, and Endurance will offer significant growth capital and industry relationships to entrepreneurs in the sector."

Bob Delaney, a Partner at Crestview who leads the firm's energy investment strategy, said, "We are excited to continue our relationship with John Schmitz as we pursue this new artificial lift strategy.  Our firms have deep expertise in the oilfield services sector, and we can use our knowledge and experience toward building Endurance into a meaningful industry brand.  Our team continues to evaluate a pipeline of exciting opportunities, and we look forward to identifying more partners as we launch this new company."

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 has approximately $6 billion of assets under management.  The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management.  Crestview has senior investment professionals focused on sourcing and managing investments in each of the media, energy, financial services and healthcare industries 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.

Contact:
Jeffrey Taufield, Kekst and Company 
212-521-4815 
jeffrey-taufield@kekst.com

SOURCE Crestview Partners

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http://www.crestview.com