Clearlake Capital Acquires Archer’s North American Rental and Tubular Division
Search
Share on twitter
Share on linkedin
Share on print
Share on email

Clearlake Capital Acquires Archer’s North American Rental and Tubular Division

Clearlake Capital Group has completed its acquisition of the North American Rental and Tubular Services divisions of Archer Limited, through a newly- formed company, IronGate Energy Services. Terry Keane, previously President of the Rental and Tubular divisions, will serve as President and Chief Executive Officer of IronGate.

IronGate is a provider of rental and tubular services to oil and natural gas exploration and production operators in North America. The company’s Rental Services division provides drill string components, such as drill pipe and other related drilling equipment, to both onshore and offshore oil and natural gas operators, and also provides surface pressure control equipment. The Tubular Services division provides casing running and related services for oil and natural gas wells throughout various stages of onshore and offshore drilling. The company is headquartered in Houston (no website found).

“We are excited to partner with the management team and enable IronGate’s growth as a highly focused, newly independent company,” said José Feliciano, a founding partner at Clearlake. “We look forward to supporting the company as it makes strategic investments in order to meet customers’ needs, including expanding in new and existing geographies. We believe that IronGate is an excellent platform for future acquisitions and is well-positioned to capitalize on the growth of the North American oil and gas market.”

Clearlake invests in special situations such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and minority equity investments. Sectors of interest include business services; communication; consumer products and retail; defense and public safety; energy and power; healthcare; industrials; media; and technology. Clearlake was founded in 2006 and is headquartered in New York (www.clearlakecapital.com).

“As a newly independent company, IronGate will continue a long tradition of excellent customer service, safety and compliance while offering high quality equipment for rental and premium tubular services,” said Mr. Keane. “Clearlake’s operational and financial resources will provide us with the support to build our business and continue to focus on our customers’ success.”

© 2013 PEPD • Private Equity’s Leading News Magazine • 7-1-13

Share on twitter
Share on linkedin
Share on print
Share on email

To search in site, type your keyword and hit enter