Bravo Oilfield Safety Services LP, a portfolio company of Canadian private equity firm Yellow Point Equity Partners, recently announced its combination with Target Safety Services Ltd. No financial terms were released. The new entity, Bravo Target Safety LP, provides a one-stop shop for safety services and related products in the Western Canadian industrial and oilfield safety sector, the company said. Target was represented in the deal by Stormont Energy Advisors. Yellow Point, which acquired Bravo last year, closed its fourth fund, Yellow Point Equity Partners IV LP, in September.
Bravo and Target Sign Definitive Merger Agreement to Form Bravo Target Safety
Combined organization a leader in safety, medical, and emergency services.
October 23, 2015 – Bravo Oilfield Safety Services LP (“Bravo”) and Target Safety Services Ltd. (“Target”) are pleased to announce their merger to form Bravo Target Safety LP (“Bravo Target”).
Bravo Target is a one-stop shop for safety services and safety-related products. It combines the unique competencies of two of Western Canada’s leading safety companies and has extensive experience in numerous areas including safety services for facilities, industrial turnarounds, maintenance as well as oilfield drilling and completions.
“This merger is about combining two exceptional organizations into a new growth and customer-oriented company that can offer a more robust suite of services, said Craig Dore, newly appointed CEO of Bravo Target. “We are looking to build on our strengths during this downturn and position the company for significant growth when the cycle turns. Cost rationalization is not a motive here and each of our Western Canadian locations will remain open and ready to serve. Our goal is to be the leader in the Western Canadian industrial and oilfield safety sector, and we encourage you to consider Bravo Target for all your safety needs, both large and small.”
Bravo Target has the knowledge and manpower to successfully complete safety projects of almost any complexity and scope. The company’s nine strategically-located offices will allow rapid response times, and its employees’ abilities to provide outstanding customer service will be enhanced over time as they enjoy cross-training initiatives and fewer seasonal layoffs. Bravo Target is 100% Canadian-owned and will benefit from continued strong backing by financial partner Yellow Point Equity Partners.
Ray Brausen (former President of Bravo) will remain a board member and major shareholder. Brausen added “We are excited about this combination. The combined company’s diverse locations, knowledgeable employee base, industry leading equipment and positive employee-focused culture will allow us to provide unparalleled service to our blue chip customer base.”
FOR MORE INFORMATION PLEASE CONTACT CRAIG DORE AT CRAIGDORE@BRAVOTARGET.CA
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