Clearlake-backed Gravity sells chemicals platform Tech Management to Coastal Chemical

Gravity is a provider of energy infrastructure services to U.S. onshore oil and natural gas exploration and production companies.

  • PPHB, LP acted as financial advisor to Gravity and Clearlake while Vinson & Elkins LLP acted as legal advisor
  • Clearlake has over $70 billion of assets under management
  • Clearlake was founded in 2006

Gravity, which is backed by Clearlake Capital Group has sold Tech Management, its production chemicals platform, to Coastal Chemical, a Brenntag Company. No financial terms were disclosed.

“There is a strategic fit between Brenntag and Tech Management, and this sale allows Gravity to increase its efforts on its core, growth focused water logistics and power generation business lines for customers operating primarily in the Permian, the Bakken, and other key basins,” said José E. Feliciano, Chairman of Gravity and co-founder and managing partner of Clearlake, and Colin Leonard, partner and managing director of Clearlake, in a statement. “Clearlake is proud to support Gravity in this important transaction.”

PPHB, LP acted as financial advisor to Gravity and Clearlake while Vinson & Elkins LLP acted as legal advisor.

Gravity is a provider of energy infrastructure services to U.S. onshore oil and natural gas exploration and production companies.

Founded in 2006, Clearlake has over $70 billion of assets under management.