M&A Deal Summary

Clearlake Capital and Layton Acquire Platinum Energy Solutions

On March 15, 2011, private equity firms Clearlake Capital and Layton acquired energy services and equipment company Platinum Energy Solutions for 135M USD

Acquisition Highlights
  • This is Clearlake Capital’s 2nd and Layton’s 1st transaction in the Energy Services and Equipment sector.
  • This is Clearlake Capital’s 14th and Layton’s largest (disclosed) transaction.
  • This is Clearlake Capital’s 6th and Layton’s 1st transaction in the United States.
  • This is Clearlake Capital’s 2nd and Layton’s 1st transaction in Texas.

M&A Deal Summary
Date 2011-03-15
Target Platinum Energy Solutions
Sector Energy Services and Equipment
Buyer(s) Clearlake Capital
Layton
Deal Type Recapitalization
Deal Value 135M USD

Target

Platinum Energy Solutions

Houston, Texas, United States
Platinum Energy Solutions, Inc. is an oilfield service provider whose main service line offerings include hydraulic fracturing services, coiled tubing and nitrogen services, chemical services, primary cementing and pressure pumping services. Building on a tradition of 25 years of experience, the Company focuses on high-specification hydraulic fracturing fleets in unconventional oil and natural gas plays. Platinum Energy Solutions was founded in 2010 and is based in Houston, Texas.

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Buyer(S) 2

Buyer

Clearlake Capital

Santa Monica, California, United States
Category Private Equity Firm
Founded 2006
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm that focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds, and other equity investments. Clearlake seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include technology, industrials, and consumer. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.

DEAL STATS #
Overall 6 of 90
Sector (Energy Services and Equipment) 2 of 5
Type (Recapitalization) 1 of 6
State (Texas) 2 of 13
Country (United States) 6 of 85
Year (2011) 2 of 5
Size (of disclosed) 14 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 SmartSand

Spring, Texas, United States

SmartSand is a fully integrated frac sand supply and services company that offers complete mine-to-well site proppant supply and logistics solutions. SmartSand produces Northern White frac sand, which is a premium proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. SmartSand was founded in 2011 and is based in Spring, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-12 3ality Technica

Burbank, California, United States

3ality Technica is a provider of 3D image capture equipment and processing technology. The Company sells image processing and control software and hardware solutions that significantly reduce the cost, time, and complexity of capturing 3D content for feature films and broadcast television. The Company has enabled most of the world's first stereoscopic 3D (S3D) cinematic and broadcast achievements, including U2 3D (the movie), and the first live S3D broadcasts from the NFL, BCS Championship, BSkyB, the Super Bowl, the World Cup and NBC television. 3ality Technica is headquartered in Burbank, California.

Buy -
Buyer

Layton

Houston, Texas, United States
Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

Layton Corp is a specialist investment firm focused on all sectors of the energy industry. The Firm seeks to invest in both domestic and international opportunities in the trading, transportation, midstream, services, technology, and electricity sectors. Layton will fund start-ups as well as acquisitions, strategic partnerships, workouts, and distressed situations. Layton Corp is based in Houston, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Recapitalization) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
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