Trilantic Capital Partners has agreed to buy a majority stake in Fluid Delivery Solutions. No financial terms were disclosed. The firm’s CEO Dan Dunkelberg will remain in his role and retain a “meaningful” stake in the business. Headquartered in Fort Worth, Texas, FDS is an oil and gas service company.
NEW YORK, June 18, 2014 /PRNewswire/ — Trilantic Capital Partners (“Trilantic”), a global private equity firm, today announced it has agreed to acquire a majority interest in Fluid Delivery Solutions LLC (“FDS” or the “Company”), an oilfield water management company primarily engaged in fresh water transfer and storage in premier oil and gas basins, including the Marcellus, Utica,
Permian, Eagle Ford, Eaglebine and Niobrara. FDS will continue to be led by CEO Dan Dunkelberg and the management team will retain a meaningful stake in the business going forward. Financial terms of the transaction were not disclosed.
“FDS offers an attractive investment platform in the oilfield water management space,” said Chris Manning, a Partner at Trilantic. “We are thrilled to partner with the exceptional FDS management team to continue serving their customers and execute on the tremendous growth opportunity ahead.”
Added Dunkelberg: “We look forward to entering the next stage of our growth strategy with Trilantic and are confident that our partnership will successfully lead FDS to achieve our shared goals for the Company.”
Privately owned and operated by petroleum engineers, FDS has developed a best-in-class reputation for safety, execution and customer service. The Company serves a blue chip customer base across major unconventional shale plays throughout the U.S. Trilantic has committed significant additional capital to fund organic growth and the acquisition of complementary services.
The transaction follows two recent exits by Trilantic: the sale of Enduring Resources’ Permian Basin assets and the IPO and secondary share sale of Antero Resources Corporation. Trilantic has now committed nearly $2.5 billion to the energy sector.
About Trilantic Capital Partners
Trilantic is a private equity firm focused on control and significant minority investments in North America and Europe, with a primary investment focus in North America in the business services, consumer, energy and financial services sectors. Trilantic currently manages five institutional private equity funds with aggregate capital commitments of $6.1 billion. For more information, visit www.trilantic.com.
About Fluid Delivery Solutions
Fluid Delivery Solutions is an oil and gas service company headquartered in Fort Worth, Texas. The company is focused on delivering best in class fresh water transfer and containment services to the oil and gas industry. Since January 2011, when operations began in Oakdale, Pennsylvania, FDS has grown to over 400 employees. The company’s tremendous growth can be attributed to management’s ability to attract and retain the most experienced and qualified personnel. With its qualified staff, FDS has developed a reputation for excellence in managing complex freshwater solutions. For more information about FDS, visit www.fdsllc.com.