Intervale Capital has made an equity investment in Aegis Chemical Solutions, an oilfield chemicals and water treatment business. The transaction merges Aegis with Mid-Chem, a Midland, Texas-based production chemicals business, and positions Intervale as the majority owner of Aegis.
Aegis provides oil and gas production chemicals and chlorine dioxide treatment services to customers in major oilfield markets, with a particular focus on the Permian Basin of West Texas and Southeastern New Mexico. The company is headquartered in The Woodlands, TX, with operations in Midland, TX and other areas of the Permian Basin (www.aegischemical.com).
Intervale plans to invest additional capital to expand Aegis’s geographic reach and to strengthen its product and service offering.
“We are very pleased to partner with an excellent team at Aegis to grow the company into a premier independent oilfield chemicals provider. We believe there is a tremendous opportunity for Aegis to expand its products and services within its existing Permian Basin footprint and to other major producing regions,” said Charles Cherington, Managing Partner at Intervale.
Intervale Capital invests exclusively in middle-market oilfield services and manufacturing companies and related technologies. The firm has more than $650 million under management and is currently investing from its second fund. The firm is headquartered in Cambridge, MA with an additional office in Houston, TX (www.intervalecapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-14-13