Westward Partners has acquired a majority interest in DLM Oilfield Enterprises, a provider of maintenance services to oil companies. “The market for DLM’s services within the heavy oil region of Alberta is on what we think is a very strong growth trajectory,” said Andy Baldridge, Founder and Partner at Westward.
DLM provides maintenance services to cold oil and steam assisted gravity drainage (SAGD) production facilities throughout Northeast Alberta. SAGD is an enhanced oil recovery technology for producing heavy crude oil and bitumen. The company utilizes its fleet of more than 40 flush-by trucks, pressure trucks, and vacuum trucks to service some of the largest oil companies in Alberta. The company has been in business for more than 12 years and is based in Bonnyville, Alberta (no website found).
Westward Partners invests in companies with revenue up to $75 million and EBITDA up to $10 million. Sectors of interest include aggregates, business services, consumer products, energy services, forest products, manufacturing, packaging and transportation & logistics. The firm is based in Seattle, WA (www.westwardpartnersllc.com).
Generational Equity, a mergers and acquisitions advisor for privately-held, middle-market businesses advised DLM on the transaction. Managing Directors Stephen Crisham and Lori Galloway, together with affiliate Ted Rattenberry, led the Generational Equity deal team.
“As the indisputable service leader in the region DLM is well positioned for continued growth. Westward will be looking to add to DLM’s asset base over the next 24 months through the acquisition of additional equipment and complementary businesses,” said Mr. Rattenberry.
