NGP Energy Technology Partners Exits Managed Pressure Operations
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NGP Energy Technology Partners Exits Managed Pressure Operations

Managed Pressure Operations (MPO), an oilfield services company and a portfolio company of NGP Energy Technology Partners, has been sold to Aker Solutions. NGP first invested in Managed Pressure Operations in August 2010.

Managed Pressure Operations is an oilfield services company that provides continuous circulation and managed pressure drilling systems, including equipment and operational personnel, to the onshore and offshore drilling markets. The company has locations in Singapore, Dubai, Houston, and Indonesia (www.managed-pressure.com).

“NGP Energy Technology Partners has been a great partner to MPO since its formation and has provided financial resources and strategic advice to the company to help it manage its accelerated growth and continual development of specialized drilling solutions,” said Charlie Orbell, Chief Executive Officer of MPO.

MPO was advised by investment bank Tudor, Pickering, Holt & Co. and the law firms of BoyarMiller and Schjodt.

NGP Energy Technology Partners, established in 2005, is a private equity firm investing equity capital for growth and buyout transactions for companies that provide products and services to the oil and gas, power, energy efficiency, and alternative energy sectors. The fund has $500 million in capital under management and is an affiliate of NGP Energy Capital Management, a private equity firm with over $13 billion of cumulative capital under management which serves the natural resources sector. The firm is headquartered in Washington, DC and has an additional office in New Orleans (www.ngpetp.com).

Aker Solutions is a global provider of products and services to the engineering, construction, maintenance, modification and operation of new and existing oil and gas fields. The company was founded in 1841 and is based in Oslo, Norway (www.akersolutions.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 3-8-13

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