Dallas and Houston, TX-based private equity firm Turnbridge Capital Partners closed its first institutional fund, Turnbridge Capital Partners I, L.P., with commitments of $400m.
The fund will use the capital to continue to invest in companies that provide services and manufactured products in the upstream, midstream and downstream energy sectors.
Founded in 2008 and led by J. Kent Sweezey, Todd M. Tomlin, C. Mitchell Cox, David J. Graham, Robert B. Horton and Mr. John U. Clarke, Turnbridge Capital Partners Turnbridge invests in middle-market businesses that are directly or indirectly dependent on energy and energy-related infrastructure spending. These businesses are typically energy services and equipment providers supporting upstream, midstream and downstream energy companies.
Turnbridge seeks to invest alongside superior management teams, often as their company’s first institutional equity partner, to assist in the pursuit of shared strategic growth and value-creation objectives.
Typically, investments involve companies generating $25m to $250m of revenue.
Its current portfolio includes:
– Aereon, a global manufacturer of gas and vapor handling combustion and recovery equipment;
– Allied-Horizontal Wireline Services, a provider of open-hole and cased-hole wireline logging and completion services across North America;
– Pipe Pros, a domestic provider of casing and tubing installation services;
– Pro-Stim, a specialized stimulation services provider positioned within the conventional reservoir segment; and
– ROC Service Company, a provider of wellsite and surface facilities installation, maintenance, inspection and repair across the onshore U.S. marketplace.
Eaton Partners LLC served as placement agent for the Fund, while Jones Day served as lead counsel.