Add-on Acquisition • Oil/Gas Exploration

Ace Fluid Solutions Acquires Terra Oilfield Services

On March 15, 2021, Ace Fluid Solutions acquired oil/gas exploration company Terra Oilfield Services from OFS Energy Fund

Acquisition Context
  • This is Ace Fluid Solutions’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Ace Fluid Solutions’ 1st transaction in the United States.
  • This is Ace Fluid Solutions’ 1st transaction in Texas.

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M&A Deal Summary

Date March 15, 2021
Target Terra Oilfield Services
Sector Oil/Gas Exploration
Buyer(s) Ace Fluid Solutions
Sellers(s) OFS Energy Fund
Deal Type Add-on Acquisition

Target Company

Terra Oilfield Services

Conroe, Texas, United States
Terra Oilfield Services provides critical water transfer, treatment, and fluids management services to the oil and gas industry primarily during the drilling and completion phases. Terra Oilfield Services is based in Conroe, Texas.
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Buyer Overview 1

Buyer

Ace Fluid Solutions

Odessa, Texas, United States

Category Company
Sector Chemicals
DESCRIPTION

Ace Fluid Solutions provides fluid solution offerings that span from sourced water to stimulation chemicals to support the end-to-end frac process. Ace Fluid Solutions offer a full sweep of chemical additives used in hydraulic fracturing. Ace Fluid Solutions is based in Odessa, Texas.


Deal Context for Buyer #
Overall 1 of 1
Sector: Oil/Gas Exploration 1 of 1
Type: Add-on Acquisition 1 of 1
State: Texas 1 of 1
Country: United States 1 of 1
Year: 2021 1 of 1

Seller Profile 1

SELLER

OFS Energy Fund

Houston, Texas, United States

Investor


Category Private Equity Firm
Founded 2008
Size Small
Type Sector Focused
DESCRIPTION

OFS Energy Fund is a private equity fund focused on acquiring and growing lower middle market energy service companies. OFS seeks at least $15 million in companies generating revenue of $5 to $100 million and EBITDA of $1 to $20 million. OFS also looks to provide debt financing to private and public companies as well. The Firm will consider a variety of transaction situations, including buyouts, recapitalizations, growth capital financings, and special situations. OFS Energy is managed by Dorado Energy Partners LLC. The Firm was founded in 2008 and is based in Houston, Texas.


Deal Context for Seller #
Overall 10 of 14
Sector: Oil/Gas Exploration 3 of 4
Type: Add-on Acquisition 4 of 5
State: Texas 7 of 11
Country: United States 10 of 14
Year: 2021 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-17 Allied Power Group

Houston, Texas, United States

Allied Power Group is an independent provider of aftermarket maintenance and repair solutions for heavy-frame IGTs, primarily serving the electric utility industry. APG’s fully-integrated offering includes engineered inspections and repairs, specialized coatings, precision manufacturing of replacement components, experienced field service professionals, multi-faceted rotor repair, and an expansive inventory of refurbished parts. Allied Power Group was founded in 2005 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Integrity Gas Services

Houston, Texas, United States

Integrity Gas Services offers nitrogen services to the upstream, midstream, and downstream markets. Based in Houston, Texas, with operations focused in West Texas, the Scoop and Stack in Oklahoma, and the North East, Integrity was founded in late 2016 and is based in Houston, Texas.

Sell -