Victory Park Capital has acquired nearly all of the assets of Surefire Industries USA, a maker of equipment used in the oil and gas industry. Post closing, Victory Park will operate the business under the name Surefire Industries, LLC.
Surefire Industries manufactures and supplies equipment for onshore and offshore hydraulic fracturing, coiled tubing, cementing, nitrogen and fluid pumping services. Surefire employs approximately 150 people and is headquartered in Houston with an additional office in Dallas (www.surefireusa.com).
Surefire Industries is led by President C. Jim “Jamie” Stewart, IV. “The asset purchase by Victory Park puts an end to a challenging 12 months and affords us a new start with a new balance sheet. The professionals at VPC understand our business, our customer base, and what’s required to ensure that our business remains at the forefront of the pressure pumping equipment and services industry,” said Mr. Stewart.
“Surefire represents an excellent opportunity for VPC to leverage its experience in the energy and oilfield services sectors,” said Derek Ferguson, Vice President with VPC. “We see significant opportunity for Surefire as a company with a strong balance sheet and innovative equipment designs. The company has an experienced management team and a highly skilled employee base committed to developing Surefire into a world-class supplier of diversified equipment and solutions for the global pressure pumping industry.”
Victory Park Capital (VPC) invests from $10 million to $50 million per transaction in small cap public companies and middle market private companies that typically generate less than $150 million in revenue and less than $30 million of EBITDA. The firm focuses on complex situations and seeks to build long term sustainable value in its companies. Victory Park was founded in 2007 and is based in Chicago with additional offices in Boston, New York and San Francisco (www.victoryparkcapital.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-3-14
