M&A Deal Summary

Parallel Investment Partners and White Deer Energy Acquire Accelerated

On September 1, 2008, private equity firms Parallel Investment Partners and White Deer Energy acquired energy services and equipment company Accelerated

Acquisition Highlights
  • This is Parallel Investment Partners’ 2nd and White Deer Energy’s 1st transaction in the Energy Services and Equipment sector.
  • This is Parallel Investment Partners’ 22nd and White Deer Energy’s 1st transaction in the United States.
  • This is Parallel Investment Partners’ 5th and White Deer Energy’s 1st transaction in Texas.
Investment Fate
  • Accelerated was sold to a publicly-traded strategic buyer in 2014 for 430M USD.
  • Accelerated was sold to a strategic buyer in 2014 for 430M USD.

M&A Deal Summary

Date 2008-09-01
Target Accelerated
Sector Energy Services and Equipment
Buyer(s) Parallel Investment Partners
White Deer Energy
Deal Type Recapitalization

Target

Accelerated

The Woodlands, Texas, United States
Accelerated is an integrated product and service supplier for the oil and gas industry worldwide. Accelerated provides comprehensive hydraulic lift solutions, a broad range of pump systems, an array of critical process equipment and systems, and a number of professional design, engineering and support services to meet industry needs.

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Buyer(S) 2

Buyer

Parallel Investment Partners

Dallas, Texas, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Parallel Investment Partners is a private equity firm focused on acquiring North American middle market companies. Parallel looks for companies generating at least $10 million in revenue and valued between $10 and $100 million. Sectors of interest include business services, financial services, energy exploration, energy services, healthcare services, medical products, restaurants, retail, education, engineered products, and light manufacturing. Prospective transaction situations include recapitalizations, growth capital financings, buyouts, and divestitures. Parallel Investment Partners was formed in 1999 and is based in Dallas Texas.


DEAL STATS #
Overall 22 of 25
Sector (Energy Services and Equipment) 2 of 3
Type (Recapitalization) 19 of 22
State (Texas) 5 of 5
Country (United States) 22 of 25
Year (2008) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-01 Products Fabrication

Houston, Texas, United States

Products Fabrication, Inc. is a designer and manufacturer of vessels and other components primarily used to process liquids in the oil & gas industry. Increased U.S. oil and gas production (driven by high levels of drilling activity) combined with increased water cut characterizing domestic reserves continue to drive strong demand for PFI's products used to process oil and gas liquids. Products Fabrication was established in 1988 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Offshore Inland Marine & Oilfield Services

Mobile, Alabama, United States

Offshore Inland Marine & Oilfield Services is a provider of topside (above water) services to the offshore oil & gas and marine industries. Based in Mobile, Alabama the Company provides oil rig and vessel repair, upgrades, conversions and modifications, including steel fabrication, inside/outside machining, offshore installation and services, and engineering/design work.

Buy -
Buyer

White Deer Energy

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
PE ASSETS 2.7B USD
Size Large
Type Sector Focused
DESCRIPTION

White Deer Energy is a specialist private equity investment group focused on the energy sector. White Deer targets equity investments of $25 to $100 million in companies active in oil and gas production, oil service and equipment manufacturing and midstream infrastructure. Prospective transaction situations include companies in need of capital for growth, companies with follow-on opportunities, or management teams looking to continue to operate their companies. The Firm prefers control or co-control positions. White Deer Energy was formed in 2008 and has offices in Houston, Texas and New York, New York.


DEAL STATS #
Overall 1 of 30
Sector (Energy Services and Equipment) 1 of 18
Type (Recapitalization) 1 of 2
State (Texas) 1 of 14
Country (United States) 1 of 27
Year (2008) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-02 PostRock Energy

Oklahoma City, Oklahoma, United States

PostRock Energy Corp. is a producer of natural gas exploration services. The company own and operate a 2,200 mile gathering system in the Cherokee Basin supporting our upstream operations. PostRock Energy was founded in 1982 and is based in Oklahoma City, Oklahoma.

Buy -