Intervale Capital, an energy-focused private equity firm, closed its third fund at $495m.
Intervale Capital Fund III, which surpassed its target of $400m, brings the cumulative funds raised by Intervale to $1.2 billion, including $281m for its first fund in 2008 and $376m for its second fund in 2012.
Led by Charles Cherington and Erich Horsley, Fund III will make control investments in lower middle-market companies in the oilfield services and manufacturing companies and related technologies, located predominantly in North America and Europe. In addition to investing in existing operating companies, the firm will seek opportunities to back experienced management teams in the startup and formation of new OFS companies.
Intervale Capital has offices in Cambridge, Massachusetts and Houston, Texas. Current 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),
– Aegis Chemical Solutions (production chemicals and water treatment),
– Certus Energy Solutions (diversified oilfield rental equipment),
– Epic Lift Systems (artificial lift),
– Tier 1 Energy Solutions (Canadian wireline and completions),
– Energes Oilfield Services (well flow control, water transfer and safety services) and
– Antelope Oil Tool (casing and cementing products).
FinSMEs
26/02/2014