Brigade Energy Acquires Wellbore Solutions From GlobeLTR Energy

Published: Sep 07 2017
Deal Summary

Brigade Energy Services, LLC, a provider of well services and a portfolio company of Clearlake Capital Group, L.P., acquired well servicing division from GlobeLTR Energy Inc., an oilfield service provider and a portfolio company of Turnbridge Capital Partners, LLC.

Wellbore Solutions is a unit of GlobeLTR Energy that provides production chemicals, a fleet of well servicing rigs and other related equipment, and fishing, rental and other wellbore tools.

Parks Paton Hoepfl & Brown, LLC acted as financial advisor to GlobeLTR Energy in the transaction.

The transaction enables Brigade Energy to strengthen its service offerings.

Troy Botts and Pat Bond, co-CEOs of GlobeLTR Energy, said, “We look forward to working with Brigade to ensure a smooth transition and make certain safety and quality of service remain priorities for all of our customers through the transition period. This transaction represents a significant strategic initiative for our company and GlobeLTR’s other operations and product lines will not be affected by this transaction.”

Jose E. Feliciano, chairman of GlobeLTR Energy and managing partner of Clearlake Capital, said, “Clearlake is pleased with this important transaction and the strategic fit between Brigade and our well servicing division. This transaction facilitates GlobeLTR’s increased focus on its core midstream water logistics and pre-frac solutions as well as power generation services for E&P clients operating in the Permian and other target basins.”

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