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TriWest Capital Partners acquires a majority stake in Colter Energy

TriWest Capital Partners, a Calgary-based mid-market private equity firm, has acquired a majority position in Colter Energy Services Inc and Colter Production Testing Services Inc for an undisclosed sum. With headquarters in Okotoks, Alberta, the businesses together provide production testing equipment and services to the oil and gas industry in Western Canada and the Northern United States. Colter said the partnership with TriWest will help facilitate its strategic growth plans. The deal, which comes on the heels of TriWest’s acquisition of Triple M Housing Ltd, is the third investment made to date by TriWest Capital Partners Fund IV, which was closed at $350 million in 2012.

PRESS RELEASE

TriWest Capital Partners Announces Investment in Colter Energy

November 28, 2013 – TriWest Capital Partners, in partnership with senior management, is pleased to announce that it has acquired a majority interest in the business and assets of Colter Energy Services Inc. and Colter Production Testing Services Inc. (together, “Colter Energy”). This investment represents TriWest’s third portfolio company in Fund IV.

Colter Energy is a leading provider of production testing equipment and services to the oil and gas industry in Western Canada and the Northern United States. Colter Energy specializes in providing flow back, production testing, workovers and completion operations on all well types, from high pressure critical sour wells to low pressure sweet wells. The company has a highly skilled operations team with extensive experience in the production testing services industry. Colter Energy is headquartered in Okotoks, AB, and has field offices in Alberta and North Dakota.

“Colter Energy has all of the attributes TriWest looks for in a partnership, including exceptional management, operational excellence and an intriguing growth profile,” said Senior Managing Director, Mick MacBean.

Colter Energy President & CEO, Clay Bradley, commented, “We are very excited to partner with TriWest and their experienced management team to help facilitate our strategic growth plans.”

Founded in 1998, TriWest is one of Canada’s leading private equity firms. Having raised over $775 million of committed capital, we are entrepreneurial, independent and based in Western Canada.

TriWest Capital Partners
4050, 525 8 Avenue SW
Calgary, AB
T2P 1G1
info@triwest.ca

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