EDMONTON, Alberta, Feb. 4, 2014 /CNW/ - Intervale Capital ("Intervale"),
an energy-focused private equity firm, has invested alongside a veteran
management team to form Tier 1 Energy Solutions, Inc. ("Tier 1"). Tier
1 provides wireline and completion services, and is headquartered in
Edmonton, Alberta. Tier 1 currently has field operations in Nisku and
Grande Prairie and a sales office in Calgary. The company plans to
expand its footprint to include the most active oil and gas producing
regions in the Western Canadian Sedimentary Basin.
Kevin O'Dwyer serves as Tier 1's Chief Executive Officer. He brings over
30 years of oilfield service experience to the company, and joins a
team of veteran operational and sales professionals. Mr. O'Dwyer
commented, "Given increasing customer focus on efficiency and
reliability during the well completion process, the Tier 1 team is
eager to provide wireline and completion services with premium
equipment and industry-leading service quality. The inbound response
from customers to date has been tremendous."
Erich Horsley, Partner at Intervale, added, "We are excited to back a
top-notch management team with deep industry experience. Through a
consistent focus on operational excellence, Kevin and his team have
established an outstanding reputation with Canadian exploration and
production companies over the course of their careers. We are committed
to supporting Kevin and his team as they grow the business."
Current Intervale portfolio investments include Proserv Group (offshore
and subsea equipment and services), TEAM Oil Tools (completions
equipment and services), Allied Oil & Gas Services (cementing and
acidizing services), Aegis Chemical Solutions (production chemicals and
water treatment), Certus Energy Solutions (diversified oilfield rental
equipment) and Antelope Oil Tool (casing and cementing products).
About Tier 1 Energy Solutions:
Tier 1 provides a range of wireline and completion tool running
services. The company is headquartered in Edmonton, Alberta, with
operations and sales offices in Nisku, Grande Prairie and Calgary.
About Intervale Capital:
Intervale Capital is an energy-focused private equity firm with offices
in Boston and Houston. Intervale invests exclusively in middle-market
oilfield services and manufacturing companies and related technologies.
The firm has raised over $650 million of committed capital since its
inception in 2006 and is currently investing from its second fund. http://www.intervalecapital.com
SOURCE: Intervale Capital
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