Intervale Capital invested alongside a veteran management team to form Entegra LLP. The new company provides in-line inspection services to the energy industry and operates out of Houston, Indianapolis, and Toronto. Financial terms were not disclosed.
HOUSTON, Feb. 10, 2016 /PRNewswire/ — Intervale Capital (“Intervale”), an energy-focused private equity firm, has invested alongside a veteran management team to form Entegra, LLP (“Entegra”). Entegra provides in-line inspection (“ILI”) services to the energy industry. The company currently has engineering, R&D and ILI tool fabrication resources in Toronto, Ontario with sales and field operations based out of Houston, Texas and Indianapolis, Indiana. The company plans to expand its footprint to offer pipeline inspection and integrity services in all active pipeline markets in the United States and Canada.
Mark Olson serves as Entegra’s President. He brings over 25 years of pipeline integrity experience to the company, and leads a team of veteran engineering, operations and sales professionals. Mark previously led the team that formed Cornerstone Pipeline Inspection Group (“CPIG”) in 2001, which quickly gained traction by pioneering an innovative high resolution MFL/Caliper combo ILI tool, or “smart pig.” CPIG was ultimately acquired by Baker Hughes Incorporated in 2003.
Mr. Olson commented, “Given increasing customer demand for accurate data, reduced report turnaround time and overall reliability of ILI runs, the Entegra team is eager to again provide inspection services with next generation tools and industry leading service quality. We are already seeing inbound inquiries from customers who know that their needs will be met by a proven team. We’re thrilled to partner with Intervale, and look forward to working with them to accelerate Entegra’s growth strategy.”
Jason Turowsky, Partner at Intervale, commented, “We are very excited to back a top-notch management team with deep industry experience. Pipeline integrity management is of great importance to the industry, the public and the environment. Entegra offers best-in-class technology and services to help pipeline operators achieve safe and optimal operation of their pipeline assets.”
Jason Arnoldy, Vice President at Intervale, added, “By focusing on innovative ILI technology, providing unmatched customer service and creating a culture of operational excellence, Mark and his team have established an outstanding reputation among pipeline operators over the course of their careers. We are fully committed to supporting Entegra as demand grows for its products and services.”
Entegra provides ILI services to the energy industry, which includes operating a suite of ultra-high resolution MFL/Caliper ILI tools in liquid and gas pipelines, related field support, and expert data interpretation. By focusing on hardware and software improvements, Entegra is able to obtain and process higher resolution data than current state-of-the-art, resulting in increased data clarity and accuracy of reporting for its clients.
About Intervale Capital:
Intervale Capital is an energy-focused private equity firm with offices in Houston and Boston. Intervale invests primarily in middle-market energy services and manufacturing companies and related technologies. The firm has raised $1.3 billion of committed capital since its inception in 2006 and is currently investing from its third fund.
Intervale portfolio companies include Tier 1 Energy Solutions (wireline and completions in Canada), TEAM Oil Tools (completions equipment and services), Aegis Chemical Solutions (oilfield chemicals, water treatment and water transfer), Certus Energy Solutions (diversified oilfield rental equipment), Antelope Oil Tool (casing and cementing products) and Epic Lift Systems (artificial lift and compression), among others.