Turnbridge Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Turnbridge Capital has acquired 1 company. It has also invested in 2 others.

Turnbridge Capital’s most common sectors for investment are energy services and equipment (74%) and oil/gas exploration (14%). The Firm’s most common investment types include recapitalization (47%) and buyout (lbo, mbo, mbi) (27%). In total, Turnbridge Capital has invested in 3 US states. Its largest (disclosed) acquisition occurred in 2014 when it acquired Cimarron Energy for $100M.

In the last 3 years, Turnbridge Capital has exited 2 companies. The Firm’s most common exit type is trade sale (43%). Turnbridge Capital’s largest (disclosed) exit occurred in 2008 when it sold Nexus Gas Partners for $85M.

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M&A Summary

  • M&A Total Activity22
    • M&A Buy Activity15
    • M&A Sell Activity7
  • Total Sectors Invested 4
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 8

Turnbridge Capital, LLC

9 Greenway Plaza, Suite 3030,
Houston, Texas 77046
United States
(713) 357-9790
www.turnbridgecapital.com
info@turnbridgecapital.com

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 $25 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.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Oil/Gas Exploration, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Joint Venture

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 25 250
Target EBITDA - -
Investment Size 25 100
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.0/yr) # 10 2 3 - - - 15
vol $100M $100M
Sell (0.4/yr) # 5 - - - 1 1 7
vol $85M $85M
  22

Most Recent M&A

Company Date Value Type
Aereon 2020-05-04 - Add-on Acquisition
Austin, Texas · www.aereon.com
USA DeBusk LLC 2019-01-01 - Unknown
Deer Park, Texas · www.usadebusk.com
Loci Controls, Inc. 2017-11-28 - Growth Capital
Fall River, Massachusetts · www.locicontrols.com
Probe Technologies Holdings, Inc. 2017-08-09 - Recapitalization
Fort Worth, Texas · www.probe1.com
Gradiant Energy Services 2017-02-01 - Growth Capital
Denver, Colorado · www.gradiantenergyservices.com
USA DeBusk LLC 2016-05-26 - Recapitalization
Deer Park, Texas · www.usadebusk.com
Brigade Energy Services LLC 2016-01-01 - Buyout (LBO, MBO, MBI)
Denver, Colorado · www.brigadeenergy.com
ROC Service Company LLC 2015-04-29 - Secondary Buyout
Bridgeport, Texas · www.rocserviceco.com
Pro-Stim Services LLC 2015-01-01 - Unknown
Longview, Texas · www.prostimservices.com
Cimarron Energy, Inc. 2014-12-17 100M USD Divestiture
Houston, Texas · www.cimarron.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Cimarron Energy, Inc. 2014-12-17 Aereon 2020-05-04 2
Houston, Texas · www.cimarron.com Austin, Texas · www.aereon.com
Brigade Energy Services LLC 2016-01-01 Nine Energy Service, Inc. - Production Solutions Segment 2019-09-03 2
Denver, Colorado · www.brigadeenergy.com Houston, Texas
Cimarron Energy, Inc. 2014-12-17 Hy-Bon Engineering Co. Inc. 2019-07-02 1
Houston, Texas · www.cimarron.com Midland, Texas · www.hy-bon.com
Brigade Energy Services LLC 2016-01-01 Globe Energy Services LLC - Well Servicing Division 2017-09-07 1
Denver, Colorado · www.brigadeenergy.com Snyder, Texas
Impact Selector International 2014-01-01 Wireline Engineering Ltd. 2015-07-06 1
Heath, Texas · www.impactselector.com Aberdeen, United Kingdom · www.wireline-engineering.com

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 6 (75%) - 11 (73%) -
Oil/Gas Exploration 1 (13%) 100M (100%) 2 (13%) 100M (100%)
Manufacturing - - 1 (7%) -
Technology Hardware 1 (13%) - 1 (7%) -
Total 8 $100M 15 $100M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 8 (100%) 100M (100%) 15 (100%) 100M (100%)
  Texas 5 (63%) 100M (100%) 12 (80%) 100M (100%)
  Colorado 2 (25%) - 2 (13%) -
  Massachusetts 1 (13%) - 1 (7%) -
Total 8 $100M 15 $100M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Recapitalization 2 (25%) - 7 (47%) -
Buyout (LBO, MBO, MBI) 2 (25%) - 4 (27%) -
Growth Capital 2 (25%) - 2 (13%) -
Divestiture 1 (13%) 100M (100%) 1 (7%) 100M (100%)
Joint Venture 1 (13%) - 1 (7%) -
Total 8 $100M 15 $100M

Exits by Deal Type

Type Total # Value
Trade Sale 2 (29%) -
Unknown 2 (29%) -
Trade Sale - Public Company 1 (14%) 85M (100%)
Divestiture 1 (14%) -
Secondary Sale 1 (14%) -
Total 7 $85M

Deal Values

buy # Total
< $100M 1 $100M
TOTAL $100M
Largest Cimarron Energy, Inc.
$100M (2014-12-17)
sell # Total
< $100M 1 $85M
TOTAL $85M
Largest Nexus Gas Partners LLC
$85M (2008-03-25)

M&A Connections

Deals %
Acquired from
PE Firm(s)
50%
1 50%
Strategic(s)
50%
1 50%
Exited to
PE Firm(s)
20%
1 20%
Strategic(s)
80%
4 80%

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