M&A Deal Summary

Patriot Capital and Ninth Street Capital Partners Acquire Inspection Oilfield Services

On December 1, 2012, private equity firms Patriot Capital and Ninth Street Capital Partners acquired oil/gas exploration company Inspection Oilfield Services

Acquisition Highlights
  • This is Patriot Capital’s 1st and Ninth Street Capital Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Patriot Capital’s 44th and Ninth Street Capital Partners’ 5th transaction in the United States.
  • This is Patriot Capital’s 1st and Ninth Street Capital Partners’ 1st transaction in West Virginia.
Investment Fate
  • Inspection Oilfield Services was sold to a publicly-traded strategic buyer in 2015.

M&A Deal Summary

Date 2012-12-01
Target Inspection Oilfield Services
Sector Oil/Gas Exploration
Buyer(s) Patriot Capital
Ninth Street Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Inspection Oilfield Services

Morgantown, West Virginia, United States
Inspection Oilfield Services is a provider of tubular management services with operations in every significant oil and gas producing region in the continental United States.

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Buyer(S) 2

Buyer

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.


DEAL STATS #
Overall 44 of 112
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 17 of 34
State: West Virginia M&A 1 of 1
Country: United States M&A 44 of 112
Year: 2012 M&A 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-01 Premium Inspection & Testing

Baton Rouge, Louisiana, United States

Premium Inspection & Testing is a premier provider of non-destructive testing and inspection services to midstream oil and gas companies as well as customers in the nuclear, civil infrastructure, and defense industries. Premium Inspection & Testing is based in Baton Rouge, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 Airco

Punta Gorda, Florida, United States

Airco is a provider of a broad range of plant maintenance and repair services to Power Plants and Industrial manufacturers. Airco operates in three verticals, Industrial Services, Power Services, and Welding Services, each led by industry-experienced senior managers. Airco was founded in 1994 and is based in Punta Gorda, Florida.

Buy -
DESCRIPTION

Ninth Street Capital Partners is a private investment firm focused on acquiring established, profitable lower middle-market companies with $5 to $50 million in revenue. Ninth Street is a generalist investor and seeks companies operating in fragmented sectors, with low cyclicality and external risk factors. Target investment situations include owners looking to retire or in need of liquidity, or owners in need of additional management and expertise and looking for a partner to pursue growth opportunities. Ninth Street Capital Partners was founded in 2009 and is based in Orange Village, Ohio.


DEAL STATS #
Overall 5 of 12
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 6
State: West Virginia M&A 1 of 1
Country: United States M&A 5 of 12
Year: 2012 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-01 MindBodyGreen

Brooklyn, New York, United States

MindBodyGreen provides tools and information to revitalize people’s health, mind, and body. MindBodyGreen was founded in 2008 and is based in Brooklyn, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-19 Guided Surgery Solutions

Wellesley, Massachusetts, United States

Guided Surgery Solutions designs, manufactures and sells 3D image-based drill guides for dental implant surgery. Guided Surgery Solutions was founded in 2009 and is based in Wellesley, Massachusetts.

Buy -