M&A Deal Summary

Buckthorn Partners and Souter Investments Limited Acquire TWMA

On May 3, 2017, private equity firm Buckthorn Partners and family office Souter Investments Limited acquired environmental company TWMA from Lime Rock Partners

Acquisition Highlights
  • This is Buckthorn Partners’ 1st and Souter Investments Limited’s 1st transaction in the Environmental sector.
  • This is Buckthorn Partners’ 2nd and Souter Investments Limited’s 12th transaction in the United Kingdom.

M&A Deal Summary

Date 2017-05-03
Target TWMA
Sector Environmental
Buyer(s) Buckthorn Partners
Souter Investments Limited
Sellers(s) Lime Rock Partners
Deal Type Secondary Buyout

Target

TWMA

Aberdeen, United Kingdom
TWMA is a provider of fully integrated waste management services to the global oil and gas industry and environmental solutions that reduce drilling costs and maximise operational effectiveness. The company has offices and service bases in Europe, the Middle East, North Africa, West Africa and the Americas. TWMA was founded in 2000 and is based in Aberdeen, United Kingdom.

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Buyer(S) 2

DESCRIPTION

Buckthorn Partners LLP is a private investment group focused exclusively on investments in oil field service businesses. The Firm has a special interest in partnering with companies exposed to long-term growth trends and providing them industry experience, growth capital, and advice. Buckthorn Partners LLP is based in London.


DEAL STATS #
Overall 3 of 7
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 4
Country: United Kingdom M&A 2 of 6
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 Ashtead Technology

Westhill, United Kingdom

Ashtead Technology is a provider of subsea equipment and services to the offshore oil and gas industry with a strong customer base built on trust and quality. With offices in the UK, Houston, and Singapore, Ashtead is focused on delivering cost savings and value-added services to its customers. Ashtead Technology was founded in 1985 and is based in Westhill, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 Coretrax

Portlethen, United Kingdom

Coretrax is an independent service company offering wellbore clean-up and wellbore abandonment operations. By coupling cutting-edge technology with exceptional customer service, Coretrax has gained a comprehensive track record working internationally in the Oil and Gas sector. Coretrax Technology Ltd. was founded in 2008 and is based in Portlethen, United Kingdom.

Buy -
DESCRIPTION

Souter Investments is a family office focused on private equity investing throughout the UK. The Firm looks to commit £2 to £30 million to support a variety of transaction situations including buyouts, growth capital financings, corporate divestitures, and balance sheet restructurings. Broad areas of interest include transportation, luxury goods, financial services, healthcare, and business services. Souter Investments was established in 2008 and is based in Edinburgh, Scotland.


DEAL STATS #
Overall 14 of 48
Sector: Environmental M&A 1 of 2
Type: Secondary Buyout M&A Deals 2 of 9
Country: United Kingdom M&A 12 of 42
Year: 2017 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 Ashtead Technology

Westhill, United Kingdom

Ashtead Technology is a provider of subsea equipment and services to the offshore oil and gas industry with a strong customer base built on trust and quality. With offices in the UK, Houston, and Singapore, Ashtead is focused on delivering cost savings and value-added services to its customers. Ashtead Technology was founded in 1985 and is based in Westhill, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-27 Payen

London, United Kingdom

Payen is a digital PSP, providing secure consumer payment processing for medium and large companies across mobile and internet-based channels. Combining its proprietary technology platform (PCI DSS accredited) and eMoney Institution status, It provides a highly differentiated service offering to online merchants, targeting key areas such as funnel conversion, payment acceptance rates, fraud and chargeback rates, and regulatory requirements. Payen is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

Lime Rock Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lime Rock Partners is a private investment firm focused on growth capital investments in the energy industry. Specifically, Lime Rock looks for companies engaged in exploration & production, energy service, and oil service technology in North America and Europe. Lime Rock's target investment size is $50 to $150 million in businesses valued up to $500 million. Lime Rock Partners was formed in 1998 and is affiliated with Lime Rock Resources. Lime Rock Partners has offices in Westport, Connecticut; Aberdeen, Scotland; and Houston, Texas.


DEAL STATS #
Overall 42 of 62
Sector: Environmental M&A 1 of 1
Type: Secondary Buyout M&A Deals 8 of 9
Country: United Kingdom M&A 8 of 11
Year: 2017 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-20 Reveal Energy Services

Houston, Texas, United States

Reveal Energy Services is a provider of fast, accurate, and cost-effective maps of hydraulically induced fractures to the energy industry. With the flagship IMAGE Frac pressure-based fracture geometry service and companion DiverterSCAN technology and ProppantSCAN technology solutions, the company offers unparalleled diagnostic insight into well and stage spacing decisions, completions design effectiveness, and the influence of nearby hazards. Reveal Energy Services was founded in 2016 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Silvertip Completion Services

Midland, Texas, United States

Silvertip Completion Services is an oilfield services company that owns and operates 23 wireline units and a best-in-class pump-down fleet. Silvertip has deep data collection capabilities, a culture of data-driven decision-making, and an established track record of safety, providing operators with efficient wireline and pump-down services including logging, perforating, and pressure control. Silvertip Completion Services was founded in 2017 and is based in Midland, Texas.

Buy -