Merger • Energy Services and Equipment

Gravity Oilfield Services Acquires Globe Energy Services

On September 27, 2017, Gravity Oilfield Services acquired energy services and equipment company Globe Energy Services from Clearlake Capital

Acquisition Context
  • This is Gravity Oilfield Services’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Gravity Oilfield Services’ 2nd transaction in the United States.
  • This is Gravity Oilfield Services’ 2nd transaction in Texas.

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M&A Deal Summary

Date September 27, 2017
Target Globe Energy Services
Sector Energy Services and Equipment
Buyer(s) Gravity Oilfield Services
Sellers(s) Clearlake Capital
Deal Type Merger

Target Company

Globe Energy Services

Snyder, Texas, United States
Globe Energy Services LLC provides a full range of services primarily focused on production activities and the maintenance of existing wells, with capabilities that include fluid services, completion services, artificial lift, well services, fishing and rental, production chemicals, water infrastructure solutions and other environmental services.
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Buyer Overview 1

Buyer

Gravity Oilfield Services

Houston, Texas, United States

Category Company
Founded 2017
Sector Energy Services and Equipment
DESCRIPTION

Gravity Oilfield Services is a provider of critical oilfield services including water logistics and infrastructure solutions, comprehensive remote power offerings, and wellbore services to upstream oil and natural gas companies operating throughout the United States. Gravity Oilfield Services was formed in 2017 and is headquartered in Houston, Texas.


Deal Context for Buyer #
Overall 2 of 6
Sector: Energy Services and Equipment 2 of 3
Type: Merger 2 of 2
State: Texas 2 of 4
Country: United States 2 of 6
Year: 2017 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-27 Light Tower Rentals

Odessa, Texas, United States

Light Tower Rentals, Inc. is a diversified specialty equipment rental company focused on oil and gas operations in the prolific Permian Basin, with yards in other leading U.S. basins including the SCOOP/STACK, Eagle Ford, Bakken and Marcellus. LTR’s core equipment rental fleet includes mobile natural gas and diesel driven power generators, light towers, mobile housing units, field heaters and fluid handling products, which are all supported by a best in class service platform.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-21 McKenzie Energy Partners

Watford City, North Dakota, United States

McKenzie Energy Partners LLC provides reliable, contracted midstream based water management solutions for some of the most active operators in the Bakken through a network of produced water gathering pipelines and water disposal wells situated on core acreage dedications.

Buy -

Seller Profile 1

SELLER

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


Deal Context for Seller #
Overall 19 of 39
Sector: Energy Services and Equipment 3 of 3
Type: Merger 4 of 5
State: Texas 3 of 6
Country: United States 18 of 36
Year: 2017 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-27 Light Tower Rentals

Odessa, Texas, United States

Light Tower Rentals, Inc. is a diversified specialty equipment rental company focused on oil and gas operations in the prolific Permian Basin, with yards in other leading U.S. basins including the SCOOP/STACK, Eagle Ford, Bakken and Marcellus. LTR’s core equipment rental fleet includes mobile natural gas and diesel driven power generators, light towers, mobile housing units, field heaters and fluid handling products, which are all supported by a best in class service platform.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-01 C1

Bloomington, Minnesota, United States

C1 is a provider of business communications solutions. The Company serves as a critical link between OEMs and end users providing essential consulting and project management services related to custom design, installation, implementation and maintenance of communication solutions. C1 was formed in 1993 and is headquartered in Bloomington, Minnesota.

Sell -