Allied Oil & Gas Services acquires Treat-Em-Rite pressure pumping service
Friday, Nov 09, 2012
FORT WORTH, Texas, Nov. 8, 2012 /PRNewswire/ -- Allied Oil & Gas Services ("Allied"), an oilfield cementing and acidizing business headquartered in Fort Worth, Texas, has acquired Treat-Em-Rite Pressure Pumping Service ("Treat-Em-Rite"), a cementing services business located in Pearsall, Texas. Treat-Em-Rite currently services the oil and gas industry in South Texas and has a reputation for quality service and technical expertise. Treat-Em-Rite's management team and employees will remain in place post-transaction. The combined business is a portfolio company of Intervale Capital Fund II, L.P., a private equity fund focused on investments in the oilfield services sector.
The acquisition adds more than 50 skilled employees to Allied, and allows the combined company to quickly expand into the Eagle Ford Shale. Vic Joyce, Allied's Chief Executive Officer, commented, "We are thrilled to welcome Treat-Em-Rite to Allied with this transaction. The Treat-Em-Rite management team has done a tremendous job growing the business over the past 18 months. We plan to invest significantly in additional equipment to support Treat-Em-Rite's continued expansion."
Erich Horsley, Partner at Intervale Capital, added, "The acquisition of Treat-Em-Rite is an excellent fit, as it allows Allied to rapidly expand into the attractive Eagle Ford market, a long-term strategic priority. The transaction is supported by a top-tier management team with strong customer relationships and technical expertise." Following the transaction, Allied will be actively servicing customers in most of the major oil and natural gas producing regions in the continental U.S., including the Mississippi Lime, Granite Wash, Permian Basin, Eagle Ford Shale, Marcellus Shale and Utica Shale.
About Allied Oil & Gas Services:
Allied Oil & Gas Services provides cementing and acidizing services, as well as a wide range of float equipment and related products. Founded in 1967, Allied has become a leading independent oilfield services company, providing cementing and acidizing services throughout the industry. Allied built its reputation on customer-focused offerings and the highest standards of service delivery. Allied currently has locations throughout Kansas and in Pennsylvania, West Virginia and Texas. From existing locations, Allied also services customers in Oklahoma, Ohio, Colorado and Nebraska.
About Intervale Capital:
Intervale Capital is an energy-focused private equity firm, with headquarters in Cambridge, Massachusetts, and an office in Houston, Texas, investing exclusively in middle-market oilfield services and manufacturing companies and related technologies. The firm has more than $650 million under management and is currently investing from its second fund.
SOURCE Intervale Capital
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