Trilantic Capital Partners Completes Acquisition of Majority Interest in Fluid Delivery Solutions
Trilantic Capital Partners (“Trilantic”), First Trust Capital Partners (“First Trust”) and Volant Energy Partners (“Volant”), have completed the acquisition of a majority interest in Fluid Delivery Solutions LLC (“FDS” or the “Company”), an oilfield water management company primarily engaged in fresh water transfer and storage in premier oil and gas basins, including the Marcellus, Utica, Permian, Eagle Ford, Eaglebine and Niobrara. FDS will continue to be led by CEO Dan Dunkelberg and the management team will retain a meaningful stake in the business going forward. Financial terms of the transaction were not disclosed.
“We look forward to entering the next stage of our growth strategy and are confident that our new partnership will successfully lead FDS to achieve our shared goals for the Company,” said FDS CEO Dan Dunkelberg.
Privately owned and operated by petroleum engineers, FDS has developed a best-in-class reputation for safety, execution and customer service. The Company serves a blue chip customer base across major unconventional shale plays throughout the U.S. Trilantic, First Trust and FDS management have all committed significant additional capital to fund organic growth and the acquisition of complementary services.
Latham and Watkins and Chapman and Cutler served as counsel for the investor group. The seller was represented by Norton Rose Fulbright.
About Fluid Delivery Solutions
Fluid Delivery Solutions is an oil and gas service company headquartered in Fort Worth, Texas. The company is focused on delivering best in class fresh water transfer and containment services to the oil and gas industry. Since January 2011, when operations began in Oakdale, Pennsylvania, FDS has grown to over 400 employees. The company's tremendous growth can be attributed to management's ability to attract and retain the most experienced and qualified personnel. With its qualified staff, FDS has developed a reputation for excellence in managing complex freshwater solutions. For more information about FDS, visit www.fdsllc.com.
About Trilantic Capital Partners
Trilantic is a private equity firm focused on control and significant minority investments in North America and Europe, with a primary investment focus in North America in the business services, consumer, energy and financial services sectors. Trilantic’s investment in FDS follows two recent exits by the firm in the energy sector: the sale of Enduring Resources’ Permian Basin assets and the IPO and secondary share sale of Antero Resources Corporation. Trilantic currently manages five institutional private equity funds with aggregate capital commitments of $6.1 billion and has committed nearly $2.5 billion to the energy sector. For more information, visit www.trilantic.com.
About First Trust Capital Partners
First Trust Capital Partners is a private equity firm focused on investments across several sectors and industries in the United States. FTCP enjoys working alongside successful management teams through investments with entrepreneurs and strategic partners.
About Volant Energy Partners
Volant is a private equity firm built on over 25 years of expertise in partnering to create value for high growth upstream, midstream and oilfield service businesses led by top management teams. For more information, visit www.volantep.com.
Jul 02, 2014