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M&A Deal Summary

Innovex Downhole Solutions Acquires TEAM Oil Tools

On November 1, 2016, Innovex Downhole Solutions acquired energy services and equipment company TEAM Oil Tools from Amberjack Capital Partners

Acquisition Highlights
  • This is Innovex Downhole Solutions’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Innovex Downhole Solutions’ 2nd transaction in the United States.
  • This is Innovex Downhole Solutions’ 2nd transaction in Texas.

M&A Deal Summary
Date 2016-11-01
Target TEAM Oil Tools
Sector Energy Services and Equipment
Buyer(s) Innovex Downhole Solutions
Sellers(s) Amberjack Capital Partners
Deal Type Merger

Target

TEAM Oil Tools

The Woodlands, Texas, United States
TEAM Oil Tools LP is a designer, manufacturer and installer of completions products for the oil and gas sector. Team’s core products include ORIO toe valves, liner hangers, packers, composite frac plugs, swellable packers and patented cemented sleeves for hydraulic fracturing applications. The company is headquartered in The Woodlands, Texas and has manufacturing operations in Conroe, Texas. Team has 9 service centers located across the U.S., including in the Permian Basin, South Texas, Williston Basin, Mid Continent, Appalachia and ArkLaTex regions.

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Buyer(S) 1

Buyer

Innovex Downhole Solutions

Houston, Texas, United States
Category Company
Founded 2016
Sector Energy Services and Equipment
DESCRIPTION

Innovex Downhole Solutions is a provider of innovative downhole products and technologies for the oil and gas industry. Innovex designs, manufactures, and installs a range of mission-critical well construction and well completion solutions for onshore and offshore operators in major producing regions worldwide. Innovex Downhole Solutions was founded in 2016 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 6
Sector (Energy Services and Equipment) 2 of 5
Type (Merger) 2 of 2
State (Texas) 2 of 6
Country (United States) 2 of 6
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Antelope Oil Tool & Manufacturing

Mineral Wells, Texas, United States

Antelope Oil Tool & Manufacturing Co. is a designer, manufacturer and seller of patented casing and cementing products for the oil and gas sector. Antelope’s core products include casing centralizers (tight tolerance, rigid, bow spring, welded-bow, tubing and non-weld) and related accessories and float equipment. In 2013, Antelope added the WearSox product line, a pioneering thermal spray-on solution for on-the-pipe casing centralizers, stop-collars and stabilizers for the deepwater offshore oil and gas industry. Most recently, Antelope added a proprietary line of on-the-pipe, proprietary composite centralization products, principally focused on the Middle East markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-28 Buckhorn Casing Equipment

Midland, Texas, United States

Buckhorn Casing Equipment LLC is a provider of casing equipment, including float equipment, inflatable packers, stage tools, centralizers, and related products to customers in the Permian Basin. Buckhorn is headquartered in Midland, Texas.

Buy -

Seller(S) 1

SELLER

Amberjack Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Amberjack Capital Partners is a specialist private equity firm focused on control investments in the upstream energy sector, including oilfield service and manufacturing companies. Specific segments of interest include downhole tools, drill bits and associated drilling technologies, drilling and completion fluids, drilling motor technology, enhanced oil recovery services, mud logging and related technical services, pressure control (land and subsea), subsea components, technology and equipment, managed pressure drilling, wireline services and related tools, completion products and services, differentiated equipment rental companies, and artificial lifts. The Firm targets businesses with $4 to $20 million of EBITDA and can complete transactions valued up to $175 million. Amberjack Capital Partners was formed in 2006 and is based in Cambridge, Massachusetts and has offices in Houston, Texas.

DEAL STATS #
Overall 7 of 15
Sector (Energy Services and Equipment) 7 of 11
Type (Merger) 2 of 4
State (Texas) 6 of 14
Country (United States) 6 of 14
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Antelope Oil Tool & Manufacturing

Mineral Wells, Texas, United States

Antelope Oil Tool & Manufacturing Co. is a designer, manufacturer and seller of patented casing and cementing products for the oil and gas sector. Antelope’s core products include casing centralizers (tight tolerance, rigid, bow spring, welded-bow, tubing and non-weld) and related accessories and float equipment. In 2013, Antelope added the WearSox product line, a pioneering thermal spray-on solution for on-the-pipe casing centralizers, stop-collars and stabilizers for the deepwater offshore oil and gas industry. Most recently, Antelope added a proprietary line of on-the-pipe, proprietary composite centralization products, principally focused on the Middle East markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Allied Oil & Gas Services

Southlake, Texas, United States

Allied Oil & Gas Services provides cementing and acidizing services, as well as a wide range of float equipment and related products. Allied Oil & Gas Services was founded in 1967 and is based in Southlake, Texas.

Sell -
Mergr

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