Intervale Capital has formed Certus Energy Solutions, partnering with the company’s management team on the deal. Certus, based in Houston, Texas, is provides oil country tubular goods and other downhole products. Terms of the deal were not released.
Intervale Capital (“Intervale”), an energy-focused private equity firm, has partnered with a management team to form Certus Energy Solutions, LLC (“Certus”). Certus is focused on providing premium oil country tubular goods (“OCTG”) and other downhole products, and is headquartered in Houston, Texas. Certus currently services customers in the Rocky Mountain and Mid-Continent regions of the United States, and has plans to expand to other regions.
Patrick Williamson, previously a senior vice president at Key Energy Services, serves as Certus’ President and Chief Executive Officer. He brings over 30 years of oilfield service experience to the company, and has recruited a team of veteran operational and sales professionals. Mr. Williamson commented, “Given increasing customer focus on safety and reliability, my team identified a demand in the marketplace for a premium rental tool company with a fleet of next generation tools and industry-leading service quality. The response from our customers since launch has been tremendous.”
Charles Cherington, Managing Partner at Intervale, added, “We are fortunate to back an excellent management team with deep industry experience. We believe there is a significant opportunity for Certus to capture market share and broaden its product offering.”
Current Intervale portfolio companies include Proserv Group (offshore and subsea equipment and services), TEAM Oil Tools (completions equipment and services), Allied Oil & Gas Services (cementing and acidizing services) and Aegis Chemical Solutions (production chemicals and water treatment).
About Certus Energy Solutions:Certus provides a range of downhole tools, premium OCTG and related services. The company is headquartered in Houston, Texas, with operations in the Rocky Mountain and Mid-Continent regions.
About Intervale Capital:Intervale Capital is an energy-focused private equity firm, with headquarters in Cambridge, Massachusetts, and an office in Houston, Texas. Intervale invests exclusively in middle-market oilfield services and manufacturing companies and related technologies. The firm has more than $650 million under management and is currently investing from its second fund.