M&A Deal Summary

Apollo Global Management Acquires Express Energy Services

On October 24, 2014, asset manager Apollo Global Management acquired energy services and equipment company Express Energy Services from Pamlico Capital

Acquisition Highlights
  • This is Apollo Global Management’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Apollo Global Management’s 31st transaction in the United States.
  • This is Apollo Global Management’s 5th transaction in Texas.
Investment Fate
  • Express Energy Services was sold to a strategic buyer in 2020.

M&A Deal Summary

Date 2014-10-24
Target Express Energy Services
Sector Energy Services and Equipment
Buyer(s) Apollo Global Management
Sellers(s) Pamlico Capital
Deal Type Secondary Buyout
Advisor(s) Moelis & Co. (Financial)

Target

Express Energy Services

Houston, Texas, United States
Express Energy Services is a provider of rental equipment and services to the oil and gas industry. Express Energy Services was founded in 2000 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 72.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 42 of 152
Sector: Energy Services and Equipment M&A 2 of 8
Type: Secondary Buyout M&A Deals 8 of 39
State: Texas M&A 5 of 19
Country: United States M&A 31 of 108
Year: 2014 M&A 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-24 BMI Group

Reading, United Kingdom

BMI Group is a supplier of pitched roofing products. The company manufactures and sells a comprehensive range of concrete and clay tiles for pitched roofs, roofing components, and chimney systems, serving the new build and renovation segments for residential and nonresidential markets. BMI Group is based in Reading, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-17 Thiess

South Bank, Australia

Thiess is a contract miner, working with clients in Australia, Asia and Americas in the dynamic field of open-cut and underground mining. Thiess was founded in 1934 and is based in South Bank, Queensland.

Buy -

Seller(S) 1

SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 32 of 61
Sector: Energy Services and Equipment M&A 2 of 2
Type: Secondary Buyout M&A Deals 11 of 21
State: Texas M&A 5 of 7
Country: United States M&A 31 of 59
Year: 2014 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-07 Bluepeak

Sioux Falls, South Dakota, United States

Bluepeak is a broadband/cable company providing high-speed internet, television, and digital telephone services for residential and business customers in South Dakota and southwestern Minnesota. Bluepeak was founded in 2014 and is based in Sioux Falls, South Dakota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-28 Three Eagles Communications

Salida, Colorado, United States

Three Eagles Communications, Inc. is an operator of small to medium size radio stations operations in the Midwest, U.S.

Sell $67M