M&A Deal Summary

White Deer Energy Acquires Deep Well Services

On July 6, 2018, private equity firm White Deer Energy acquired energy services and equipment company Deep Well Services from 3 Rivers Capital

Acquisition Highlights
  • This is White Deer Energy’s 10th transaction in the Energy Services and Equipment sector.
  • This is White Deer Energy’s 15th transaction in the United States.
  • This is White Deer Energy’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2018-07-06
Target Deep Well Services
Sector Energy Services and Equipment
Buyer(s) White Deer Energy
Sellers(s) 3 Rivers Capital
Deal Type Secondary Buyout

Target

Deep Well Services

Zelienople, Pennsylvania, United States
Deep Well Services is an oilfield services company that provides snubbing-based completion and workover services in the Appalachian Basin and the Permian Basin. Deep Well’s specially designed units are used for drillouts in wells with long laterals and for other services such as production tubing installation, well cleanout and fishing. Deep Well Services was founded in 2008 and is based in Zelienople, Pennsylvania.

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Buyer(S) 1

Buyer

White Deer Energy

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2008
PE ASSETS 2.7B USD
Size Large
Type Sector Focused
DESCRIPTION

White Deer Energy is a specialist private equity investment group focused on the energy sector. White Deer targets equity investments of $25 to $100 million in companies active in oil and gas production, oil service and equipment manufacturing and midstream infrastructure. Prospective transaction situations include companies in need of capital for growth, companies with follow-on opportunities, or management teams looking to continue to operate their companies. The Firm prefers control or co-control positions. White Deer Energy was formed in 2008 and has offices in Houston, Texas and New York, New York.

DEAL STATS #
Overall 17 of 30
Sector (Energy Services and Equipment) 10 of 18
Type (Secondary Buyout) 3 of 4
State (Pennsylvania) 1 of 2
Country (United States) 15 of 27
Year (2018) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-01 Midstream Texas

Houston, Texas, United States

Midstream Texas is a midstream infrastructure platform focused on building and operating crude oil and refined product terminals. Midstream Texas is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-01 US Rod

Nappanee, Indiana, United States

US Rod is an API-licensed manufacturer and provider of artificial lift products, including sucker rods, rod guides, couplings, pony rods, stabilizer and sinker bars. US Rod manufactures 100% US-made products at its state-of-the-art manufacturing facility in Nappanee, Indiana.

Buy -

Seller(S) 1

SELLER

3 Rivers Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

3 Rivers Capital is a private equity firm focused on recapitalizations and buyouts of smaller companies located in the Eastern to Mountain West regions of the US. The Firm generally targets businesses with revenues up to $50 million and EBITDA up to $10 million. Target sectors include niche manufacturing, business services, healthcare, and energy. 3 Rivers prefers businesses with high barriers to entry, strong management, and operating in defensible markets. 3 Rivers was formed in 2005 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 4 of 6
Sector (Energy Services and Equipment) 1 of 1
Type (Secondary Buyout) 2 of 3
State (Pennsylvania) 3 of 4
Country (United States) 4 of 6
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 AGS Automotive Solutions

Muskegon Heights, Michigan, United States

AGS Automotive Solutions is a manufacturer and supplier of automotive aftermarket brake, transmission, and fuel line repair products for the do-it-for-me and the do-it-yourself segments. AGS sells its products to a blue-chip customer base of leading automotive aftermarket retailers on a near exclusive basis, as well as to other blue-chip customers that serve the automotive aftermarket on an ancillary basis. AGS Automotive Solutions was established in 1931 and is based in Muskegon Heights, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-02 Amazing Care

Aurora, Colorado, United States

Amazing Care is a home healthcare agency providing skilled nursing, private duty nursing, and other services to both adult and pediatric patients. Amazing Care was founded in 2004 and is based in Aurora, Colorado.

Buy -
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