Black Bay completes majority recap of ADS Services

Black Bay Energy Capital has closed a majority recapitalization of ADS Services, a provider of critical pressure control equipment and services in the Permian Basin. No financial terms were disclosed. Fishman Haygood provided counsel to Black Bay.


MIDLAND, Texas–(BUSINESS WIRE)–Black Bay Energy Capital (“Black Bay”), a private equity firm focused on the North American oilfield service sector, is pleased to announce that it has completed a majority recapitalization of, and growth equity investment in, ADS Services (“ADS” or the “Company”) alongside Black Bay Strategic Advisory Board member Charlie Orbell.

ADS Services is a leading provider of critical pressure control equipment and services in the Permian Basin. The Company is led by Charlie Orbell, who serves as President of ADS. This is the second partnership between Charlie Orbell and the Black Bay principals. Charlie is the former CEO of Managed Pressure Operations, a global provider of next-generation managed pressure drilling equipment and services.

Black Bay’s investment in ADS positions the Company to expand its product suite and customer base, with particular emphasis on growth in the Delaware Basin, in response to significant customer demand. The Black Bay growth equity investment will be used for both organic growth initiatives and opportunistic acquisition opportunities.

Charlie Orbell, President of ADS, said, “I am excited to partner with the Black Bay principals again, and the entire ADS team is proud to announce our partnership with Black Bay. Black Bay’s oilfield experience, industry relationships, and value-added capital will enable the Company to rapidly accelerate our plans for growth in the Permian, particularly into the higher-pressure and more technically challenging areas of the Delaware Basin. We are focused on improving the efficiency and safety of all drilling and completion operations in the Permian and will work hand-in-hand with our customer base to drive continuous innovation and lower well costs.”

“We are thrilled to partner with the ADS team and, in particular, to have the opportunity to work with Charlie again,” said Tom Ambrose, Partner of Black Bay. “ADS is managed by a highly skilled team of Midland-based professionals with decades of experience delivering premium and innovative pressure control solutions to the Permian Basin E&P community. The Company is uniquely positioned to provide the service, operational excellence and technical solutions that E&P operators in the Permian Basin need to reduce downtime and improve well productivity.”

Fishman Haygood served as Black Bay’s counsel on the transaction.

About ADS Services:
ADS Services (“ADS”) is a leading provider of pressure-control equipment and services in the Permian Basin. The combination of world-class technical expertise and high quality equipment solutions enables ADS to improve the efficiency and safety of its customers’ drilling and completion operations.

About Black Bay Energy Capital:
Black Bay Energy Capital (“Black Bay”) is an energy private equity firm investing in the North American oilfield service sector. Leveraging more than 60 years of direct industry experience, Black Bay partners with high-growth companies and experienced management teams with differentiated, next-generation products, services and technology solutions that drive value and enhanced efficiency for customers in the oil & gas industry.