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Knight Energy Services Acquires Platinum Pipe Rentals

Jun 06, 2023about 2 years ago

Acquiring Company

Knight

Acquired Company

Platinum

EnergyVenture CapitalOil And GasOil And GasEnergy

Description

Knight Energy Services (“Knight”), a portfolio company of Voyager Interests (“Voyager”), today announced its acquisition of Platinum Pipe Rentals (“Platinum”). Platinum, headquartered in Odessa, Texas, is a leading drill pipe and tubing rental operation focused on the Permian Basin and the Eagle Ford Shale. Financial terms of the transaction were not disclosed.

Company Information

Company

Knight

About

Headquartered in Houston, Texas and with 17 locations across the U.S., Knight specializes in serving the upstream oil and gas industry by providing a complete range of rental products for drilling, completion, production and decommissioning applications, including drill pipe, tubing, tubular handling equipment, pressure control equipment and drilling jars. Learn more online at www.ke.services. ABOUT VOYAGER Voyager Interests, based in Houston, Texas, is a specialized private equity firm that is committed to investment in middle market energy services and equipment companies. With three platform oilfield service investments (four including add-ons) acquired in the past 15 months, we believe Voyager is the most active private equity firm in the sector today. The firm is actively seeking new platform investments with enterprise values up to $100 million, and also plans to invest in add-on acquisitions for existing portfolio companies. Voyager’s limited partner base is comprised primarily of Texas family offices and experienced energy entrepreneurs, which provide significant flexibility in the firm’s investments. Learn more online at www.voyagerinterests.com. ABOUT CLEARLAKE Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland.

DealWatch™ Score

65
High M&A Activity

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed