M&A Deal Summary

Celerity Partners, Gemini Investors and Fletch Equity Acquire Well Foam

On September 4, 2014, private equity firms Celerity Partners, Gemini Investors and Fletch Equity acquired energy services and equipment company Well Foam

Acquisition Highlights
  • This is Celerity Partners’ 1st, Gemini Investors’ 3rd and Fletch Equity’s 1st transaction in the Energy Services and Equipment sector.
  • This is Celerity Partners’ 21st, Gemini Investors’ 59th and Fletch Equity’s 2nd transaction in the United States.
  • This is Celerity Partners’ 1st, Gemini Investors’ 3rd and Fletch Equity’s 1st transaction in Texas.

M&A Deal Summary
Date 2014-09-04
Target Well Foam
Sector Energy Services and Equipment
Buyer(s) Celerity Partners
Gemini Investors
Fletch Equity
Deal Type Recapitalization
Advisor(s) Romanchuk & Co., PLLC (Financial)

Target

Well Foam

Odessa, Texas, United States
Well Foam is a diversified oilfield services company, providing recovery enhancement services, including foam & nitrogen injection, downhole fishing, lay down machines, well testing and flow back and pressure control, in the Permian Basin. Well Foam was founded in 2005 and is based in Odessa, Texas.

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Buyer(S) 3

Buyer

Celerity Partners

Los Angeles, California, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Celerity Partners is a private equity firm that has invested equity capital in the change of control transactions of private companies. Celerity Partners typically partner with business owners to provide liquidity to entrepreneur and family-owned businesses, recapitalize existing owners of independent companies or facilitate corporate divestitures. Celerity Partners will consider investment opportunities across a wide range of industries in Healthcare, Contract Manufacturing, Energy Services, Infrastructure, and Environmental Services, and Transportation & Logistics. Celerity Partners was formed in 1995 and has offices in Los Angeles and Menlo Park.

DEAL STATS #
Overall 22 of 26
Sector (Energy Services and Equipment) 1 of 1
Type (Recapitalization) 2 of 4
State (Texas) 1 of 2
Country (United States) 21 of 25
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-14 Vince & Associates Clinical Research

Overland Park, Kansas, United States

Vince & Associates Clinical Research Inc. is a provider of clinical research services to the pharmaceutical and biotech industry worldwide.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-08 Analytical Bio-Chemistry Laboratories

Columbia, Missouri, United States

Analytical Bio-Chemistry Laboratories, Inc. (ABC Laboratories) is a provider of product development and analytical testing services for the Agrochemical and Pharma/Biopharma markets. The company offers a complete range of agricultural product development and GLP-compliant environmental testing services for the Agrochemical industry through its Environmental Services division, as well as a comprehensive suite of development and CGMP and GLP-compliant testing capabilities for small and large molecule therapies and medical devices through its Pharmaceutical Services division.

Sell -
Buyer

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.

DEAL STATS #
Overall 59 of 96
Sector (Energy Services and Equipment) 3 of 3
Type (Recapitalization) 14 of 21
State (Texas) 3 of 7
Country (United States) 59 of 96
Year (2014) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-12 KP

San Leandro, California, United States

KP is a provider of marketing and communication services. KP was founded in 1929 and is based in San Leandro, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 CSL

Santa Clara, California, United States

CSL is a provider of metal finishing services. CSL was founded in 1986 and is based in Santa Clara, California.

Sell -
Buyer

Fletch Equity

Investor Investor Investor

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Fletch Equity is a private equity firm focused on the lower middle-market change of control transactions valued from $15 to $75 million. The Firm has a preference for profitable companies ($2 to $20 million of EBITDA) operating in fragmented industries and will consider opportunities throughout the US. Fletch Equity is headquartered in Los Angeles, California.

DEAL STATS #
Overall 2 of 8
Sector (Energy Services and Equipment) 1 of 1
Type (Recapitalization) 1 of 4
State (Texas) 1 of 2
Country (United States) 2 of 8
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-09 National Research Institute

Los Angeles, California, United States

National Research Institute is a provider of clinical research services. National Research Institute conducts late-phase clinical research trials on behalf of pharmaceutical and biotechnology drug developers in principally metabolic disease states. National Research Institute was founded in 1989 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-17 360 Physical Therapy

Chandler, Arizona, United States

360 Physical Therapy operates outpatient physical therapy clinics that treat a wide range of orthopedic, chronic pain, neuropathic, and vestibular disorders. 360 Physical Therapy was founded in 2001 and is based in Chandler, Arizona.

Buy -
Mergr

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