M&A Deal Summary

Buckthorn Partners Acquires Coretrax

On December 13, 2018, private equity firm Buckthorn Partners acquired energy services and equipment company Coretrax from Maven Capital Partners

Acquisition Highlights
  • This is Buckthorn Partners’ 3rd transaction in the Energy Services and Equipment sector.
  • This is Buckthorn Partners’ 4th transaction in the United Kingdom.
Investment Fate
  • Coretrax was sold to a publicly-traded strategic buyer in 2024 for 210M USD.

M&A Deal Summary

Date 2018-12-13
Target Coretrax
Sector Energy Services and Equipment
Buyer(s) Buckthorn Partners
Sellers(s) Maven Capital Partners
Deal Type Secondary Buyout

Target

Coretrax

Portlethen, United Kingdom
Coretrax is an independent service company offering wellbore clean-up and wellbore abandonment operations. By coupling cutting-edge technology with exceptional customer service, Coretrax has gained a comprehensive track record working internationally in the Oil and Gas sector. Coretrax Technology Ltd. was founded in 2008 and is based in Portlethen, United Kingdom.

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Buyer(S) 1

DESCRIPTION

Buckthorn Partners LLP is a private investment group focused exclusively on investments in oil field service businesses. The Firm has a special interest in partnering with companies exposed to long-term growth trends and providing them industry experience, growth capital, and advice. Buckthorn Partners LLP is based in London.


DEAL STATS #
Overall 4 of 6
Sector (Energy Services and Equipment) 3 of 4
Type (Secondary Buyout) 3 of 4
Country (United Kingdom) 4 of 6
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-03 TWMA

Aberdeen, United Kingdom

TWMA is a provider of fully integrated waste management services to the global oil and gas industry and environmental solutions that reduce drilling costs and maximise operational effectiveness. The company has offices and service bases in Europe, the Middle East, North Africa, West Africa and the Americas. TWMA was founded in 2000 and is based in Aberdeen, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-11 Amey

London, United Kingdom

Amey is an infrastructure services and engineering company helping the economy to grow by designing, maintaining, and transforming the nation’s strategic assets. The company’s unique engineering and operations experience, together with data-driven insight from its consulting business, delivers better results for our clients. Amey is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

Maven Capital Partners

Glasgow, United Kingdom

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2009
PE ASSETS 415M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Maven Capital Partners UK LLP (MCP) invests in lower mid-market companies throughout the UK. The Firm also provides mezzanine financing. MCP focuses on profitable companies with proven track records, balanced management teams, and diverse products and services. Maven looks to invest £2 - £10 million in businesses valued from £5 - £25 million. Sectors of interest include specialist manufacturing, health/pharmaceuticals, energy services, leisure, financial services, software and computer services, communication/IT, chemicals, food/beverage, media, consumer products, and support services. Types of transactions include MBOs, MBIs, BIMBOs, take privates, recapitalizations, and growth capital financings. Maven Capital Partners UK LLP was formed in 2009, following a management buyout of Aberdeen Asset Management's Private Equity division. Maven is based in Glasgow with additional offices in Aberdeen, Birmingham, Edinburgh, London and Manchester.


DEAL STATS #
Overall 33 of 56
Sector (Energy Services and Equipment) 3 of 6
Type (Secondary Buyout) 11 of 15
Country (United Kingdom) 32 of 54
Year (2018) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-07 Indigo

Magor, United Kingdom

Indigo is a designer and installer of telecom networks across the UK and Europe, enabling customers such as Vodafone, Sky, and BT to deliver fixed line, broadband, mobile, and other data services to a wide variety of corporate, enterprise, and consumer end users. Indigo was formed in 2009 and is based in Magor, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 My Digital Accounts

Cheshire, United Kingdom

My Digital Accounts, an end to end software package incorporating CRM, MTD compliant bookkeeping and bulk payroll modules aiming to support HMRC’s widely-publicised Making Tax Digital (MTD) initiative. My Digital Accounts was founded in 2015 and is based in Cheshire, United Kingdom.

Buy -