Secondary Buyout • Energy Services and Equipment

SCF Partners Acquires ProDirectional

On January 10, 2019, private equity firm SCF Partners acquired energy services and equipment company ProDirectional from Diamond Castle Holdings

Acquisition Context
  • This is SCF Partners’ 14th transaction in the Energy Services and Equipment sector.
  • This is SCF Partners’ 22nd transaction in the United States.
  • This is SCF Partners’ 18th transaction in Texas.

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M&A Deal Summary

Date January 10, 2019
Target ProDirectional
Sector Energy Services and Equipment
Buyer(s) SCF Partners
Sellers(s) Diamond Castle Holdings
Deal Type Secondary Buyout

Target Company

ProDirectional

Conroe, Texas, United States
ProDirectional is an independent provider of directional and horizontal drilling services to oil and natural gas exploration and production companies. Professional Directional provides a complete suite of directional drilling services including well planning and engineering, downhole motor technology and guidance, and measurement while drilling services. ProDirectional was founded in 2001 and is based in Conroe, Texas.
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Buyer Overview 1

Buyer

SCF Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

SCF Partners Ltd. is a specialist private equity firm that targets investments in energy service and equipment companies with operations around the world. SCF provides both equity capital and strategic guidance over the life of the investment which typically lasts five years. The Firm's target investment size is $10 to $100 million. SCF looks to grow portfolio companies through internal growth initiatives and through acquisitions. SCF Partners was formed in 1989 and is based in Houston, Texas, with additional offices in Aberdeen, Scotland and Calgary, Alberta.


Deal Context for Buyer #
Overall 38 of 57
Sector: Energy Services and Equipment 14 of 21
Type: Secondary Buyout 1 of 4
State: Texas 18 of 26
Country: United States 22 of 33
Year: 2019 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Pipeline Plastics

Westlake, Texas, United States

Pipeline Plastics is a manufacturer of high performance polyethylene pipe used primarily for water infrastructure in oil and gas, mining, industrial and municipal applications Pipeline Plastics was founded in 2010 and is based in Westlake, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-14 Hi-Tech Industrial Services

Deer Park, Texas, United States

Hi-Tech Industrial Services is a provider of integrated specialty services to the downstream energy, infrastructure, and industrial market. Hi-Tech Industrial Services was founded in 1985 and is based in Deer Park, Texas.

Sell -

Seller Profile 1

SELLER

Diamond Castle Holdings

New York, New York, United States

Category Private Equity Firm
Founded 2004
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Diamond Castle Holdings is a private equity firm that makes leveraged buyout, recapitalization, growth capital, and equity-like investments companies. Diamond Castle Holdings invests in energy & power, financial services, and healthcare sectors. Diamond Castle was formed in 2004 and is based in New York City.


Deal Context for Seller #
Overall 6 of 7
Sector: Energy Services and Equipment 1 of 1
Type: Secondary Buyout 1 of 1
State: Texas 1 of 1
Country: United States 5 of 6
Year: 2019 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-25 Nes Rentals

Des Plaines, Illinois, United States

Nes Rentals is a U.S. aerial equipment rental company. The company has an integrated network of 73 rental locations in 31 states, offering approximately $900 million of fleet at original equipment cost.

Sell $965M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-06 Beacon Health Options

Boston, Massachusetts, United States

Beacon Health Options is a care management company that specializes in customized behavioral health solutions on behalf of health insurance companies, managed care organizations, and state and local governments. Beacon's suite of care management and population health programs helps individuals access timely, appropriate and effective mental health and substance abuse services.

Sell -