|By PR Newswire||
|August 18, 2014 06:00 AM EDT||
HOUSTON, Aug. 18, 2014 /PRNewswire/ -- Intervale Capital ("Intervale") has acquired Recapture Solutions, LLC ("Recapture") from Triten Corporation. Recapture provides flare reduction and natural gas power solutions to oil and gas production companies in the Permian, Williston (Bakken) and DJ (Niobrara) basins. Intervale is a private equity firm which invests exclusively in oilfield manufacturing and service companies.
In association with the transaction, Jason Arnoldy has been named Chief Executive Officer of Recapture and Cary Ratterree has been named President. Jason and Cary co-founded Recapture in 2012.
Recapture is a pioneer in flare gas capture and well site power solutions and has a leading market share in the markets in which it operates. Recapture operates a fleet of gas capture processing units which are used to capture the valuable natural gas liquids contained in flare gas, significantly reducing the release of environmentally hazardous compounds.
Additionally, Recapture leases a fleet of natural gas generators that are capable of utilizing raw, rich wellhead gas as fuel to power artificial lift and other auxiliary production equipment. Recapture's natural gas generators are designed and manufactured exclusively for well site use and include complete service, remote monitoring and extreme cold-climate winterization.
Jason Arnoldy commented, "Since inception, Recapture's goal has been to provide a gas capture solution that offers a clear economic benefit for our clients, while substantially reducing the environmental impact of flared gas. Reducing natural gas flaring is a challenge for our industry and we are wholly committed to providing innovative gas capture and natural gas power solutions to our clients. Our partnership with Intervale will accelerate growth in key markets as we seek to expand our service offering to include a comprehensive suite of natural gas solutions. Intervale's industry relationships and oilfield services expertise make it an ideal partner for Recapture."
Charles Cherington, Managing Partner at Intervale added, "We look forward to partnering with Recapture and its talented management team. We are committed to supporting the company's long-term geographic and service line expansion. Jason and Cary have built an impressive business in a short amount of time. The industry and public recognize natural gas flaring is a waste of our nation's valuable natural resources and we are excited to join with Recapture to develop a comprehensive solution."
About Recapture Solutions:
Recapture is a provider of flare reduction and natural gas power solutions to oil and gas production companies. Its primary areas of operation are the Permian, Williston (Bakken) and DJ (Niobrara) basins. Recapture owns and operates a fleet of natural gas powered generators as well as a fleet of gas capture processing units which are used to capture valuable natural gas liquids contained in flare gas.
Company website: http://www.recapturesolutions.com/
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 $1.2 billion of committed capital since its inception in 2006 and is currently investing from its third fund.
Intervale portfolio companies include Proserv Group (offshore and subsea equipment and services), TEAM Oil Tools (completions equipment and services), Aegis Chemical Solutions (production chemicals and water treatment), Allied Oil & Gas Services (cementing and acidizing services), Antelope Oil Tool (casing and cementing products), Certus Energy Solutions (diversified oilfield rental equipment), Energes Oilfield Solutions (well flow control, water transfer and safety services), EPIC Lift Systems (artificial lift) and Tier 1 Energy Solutions (Canadian wireline and completions).
SOURCE Intervale Capital
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