M&A Deal Summary

Coral Reef Capital Acquires ROC Service

On April 29, 2015, private equity firm Coral Reef Capital acquired energy services and equipment company ROC Service from Turnbridge Capital and Swift River Investments

Acquisition Highlights
  • This is Coral Reef Capital’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Coral Reef Capital’s 4th transaction in the United States.
  • This is Coral Reef Capital’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2015-04-29
Target ROC Service
Sector Energy Services and Equipment
Buyer(s) Coral Reef Capital
Sellers(s) Turnbridge Capital
Swift River Investments
Deal Type Secondary Buyout
Advisor(s) Lazard Middle Market (Financial)
Jones Day (Legal)

Target

ROC Service

Canonsburg, Pennsylvania, United States
ROC Service is a provider of mission critical wellsite and facilities services to exploration and production and midstream companies. ROC Service was founded in 2009 and is based in Canonsburg, Pennsylvania.

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Buyer(S) 1

DESCRIPTION

Coral Reef Capital is a specialist investment firm focused on opportunities in the natural resources sector, including oil & gas exploration and production, metals & mining, and related infrastructure and services. The Firm will consider majority and minority positions. Target transaction situations include management/leveraged buyouts, corporate carve-outs, recapitalizations, acquisition financings, and oil & gas lease development. Coral Reef Capital was established in 2008 and is based in New York City.


DEAL STATS #
Overall 4 of 5
Sector (Energy Services and Equipment) 2 of 2
Type (Secondary Buyout) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 4 of 5
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-01 Western Exploration

Nevada, United States

Western Exploration is a privately held Nevada-based mineral exploration company engaged in the identification, acquisition, evaluation, exploration, and development of gold properties in Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-18 Krewe Energy

Covington, Louisiana, United States

Krewe Energy is an oil & gas company that is aggressively engaged in the business of acquisition, exploitation and development of creative business ventures within the shallow State waters of the Gulf of Mexico, Inland marsh and Onshore. Krewe Energy was founded in 2013 and is based in Covington, Louisiana.

Buy -

Seller(S) 2

SELLER

Turnbridge Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2008
Size Middle-Market
Type Sector Focused
DESCRIPTION

Turnbridge Capital is a private equity firm focused on investing in middle-market energy services and equipment providers supporting upstream, midstream, and downstream energy companies. Turnbridge will consider companies throughout North America and looks to commit $20 to $100 million in companies generating $25 to $250 million in revenue. Turnbridge prefers control investments, but will consider select minority situations. Turnbridge Capital was formed in 2008 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 5 of 8
Sector (Energy Services and Equipment) 3 of 6
Type (Secondary Buyout) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 5 of 8
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Pro-Stim Services

Longview, Texas, United States

Pro-Stim Services LLC provides well stimulation services, including a full line of fracturing, acidizing, and pressure pumping services, for exploration and production companies in the southwest region of the U.S. Pro-Stim primarily served upstream companies completing and re-completing vertical oil wells in the traditional markets of east, central, and south Texas. Pro-Stim Services was established in 2010 and is based in Longview, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Brigade Energy Services

Denver, Colorado, United States

Brigade Energy Services is a well services company focused on providing completion, intervention, maintenance and plugging & abandonment services to the growing population of extended lateral, horizontal wellbores in the North American oil & gas industry. Brigade Energy Services was established in 2017 and is based in Denver, Colorado.

Buy -
SELLER

Swift River Investments

Upton, Massachusetts, United States

Category Family Office
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Swift River Investments is a family controlled private equity firm backed by Tony James, executive vice chairman of The Blackstone Group. Swift River invests in lower middle-market companies with minimum revenues of $10 million and at least $1 million of EBITDA. Areas of interest include premium consumer products and services, healthcare, and business services. Swift River will not invest in start-ups, technology companies, distressed situations, real estate developments, or unprofitable companies. Swift River was formed in 2005 and is based in Bolton, Massachusetts.


DEAL STATS #
Overall 1 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 2
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-02 GAMO Outdoor

Rogers, Arkansas, Spain

Gamo Outdoor is a global provider of high-quality airguns, pellets, optical equipment, airsoft products, related consumables, and outdoor accessories. The company serves mass merchants, sporting goods retailers, domestic specialty stores and distributors over 85 countries and 37,000 licensed dealers. Gamo Outdoor was formed in 1998 and is based in Rogers, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-23 iLEVEL Solutions

New York, New York, United States

iLEVEL Solutions LLC is a provider of cloud-based private capital data platform for data collection, analysis, and reporting automation.

Sell -