Peloton Computer Enterprises, a Calgary-based provider of well data software solutions to the oil and gas industry, has secured an undisclosed strategic investment. The deal was led by Silver Lake Kraftwerk, a technology growth capital fund managed by U.S. private equity firm Silver Lake. It was joined by Canadian private equity firm TriWest Capital Partners and HarbourVest Partners, a U.S. private-markets asset manager. Founded in 1991, Peloton today has more than 450 clients, including 21 of the 25 biggest North American exploration and production companies. Led by CEO Glen Gray, it will use the funds raised to explore new product capabilities and acquisition opportunities.
Peloton Announces Strategic Investment Led by Silver Lake Kraftwerk
Best-in-Class Provider of Oil & Gas Well Data Management Software to Drive More Value for Customers through Broader Product Capabilities and Incremental M&A
TriWest Capital Partners and HarbourVest Partners Join Silver Lake Kraftwerk in the Investment Round
CALGARY, Alberta, Aug. 15, 2017 – /PRNewswire/ – Peloton Computer Enterprises, a leading provider of well data software solutions to the oil and gas industry, today announced an investment led by Silver Lake Kraftwerk, a fund of Silver Lake. TriWest Capital Partners and HarbourVest Partners also participated in the investment. Terms of the transaction were not disclosed.
Peloton’s software helps oil and gas companies focus their operations and improve their strategic decision-making through better data management during the entire lifecycle of a well, including drilling, well operations, and production. Based in Calgary, Peloton has grown to become one of the largest oil and gas software companies in the world and today has more than 450 clients, including 21 of the 25 biggest North American exploration and production companies. The company has 12 offices worldwide including its newest office in Denver, Colorado which opened earlier this month.
“Peloton is a world-class software organization with a market-leading product portfolio, and we are thrilled to partner with them for their next phase of growth,” said Bryce Lee, Managing Director at Silver Lake Kraftwerk. “The company is uniquely positioned to help oil and gas companies optimize their operations through superior data-driven insights from a modern software suite. We look forward to working with management to continue their product-first strategy, including exploring potential investments in new product capabilities and M&A opportunities.”
“Peloton is excited to collaborate with our first strategic financial partners,” said Glen Gray, Chief Executive Officer of Peloton. “Their expertise in technology, energy, and information solutions aligns perfectly with our vision. We look forward to working with them to continue expanding our proven technology globally, and delivering valuable new opportunities to our clients, partners, and employees.”
Peloton has been on the leading edge of well lifecycle data management and visualization for over 25 years. With data managed by our WellView, SiteView, RigView, ProdView and LandView software, Peloton provides fully integrated solutions for operations, drilling, production and construction / reclamation. Today, more than 450 oil and gas clients worldwide rely on Peloton technology to equip their stakeholders with the tools and information necessary to manage, simplify and optimize their operations. For more information, please visit www.peloton.com or send an inquiry to firstname.lastname@example.org.
About Silver Lake Kraftwerk
Silver Lake Kraftwerk is part of Silver Lake, the global leader in technology investing with over $39 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located around the world. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. The fund targets companies globally that leverage technology and business model innovation across a number of sectors, such as transportation, logistics, manufacturing, oil and gas, power generation and transmission, energy efficiency, waste, water, and agriculture, among others. For more information about Silver Lake Kraftwerk and its entire portfolio, please visit www.silverlake.com.
About TriWest Capital Partners
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over $1.25 billion in committed capital through five funds. TriWest makes significant equity investments in profitable companies and works in partnership with management to generate superior financial returns through the pursuit of growth opportunities and a focus on operational excellence. TriWest provides more than just capital. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information about TriWest, please visit www.triwest.ca.
About HarbourVest Partners
HarbourVest is an independent, global private markets asset manager with more than 30 years of experience and more than $40 billion in assets under management. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 400 employees, including more than 100 investment professionals across Asia, Europe, and the Americas. This global team has committed more than $31 billion to newly-formed funds, completed over $15 billion in secondary purchases, and invested over $6 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, actionable insights, and proven results.
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Photo courtesy of Peloton Computer Enterprises