Intervale Capital backs Aegis Chemical Solutions
Intervale Capital, an energy-focused private equity firm, has made an equity investment in Aegis Chemical Solutions, an oilfield chemicals and water treatment business headquartered in The Woodlands, Texas.
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 transaction merges Aegis with Mid-Chem, a Midland, Texas-based production chemicals business, and positions Intervale as the majority owner of Aegis.
Charles Cherington, managing partner at Intervale, says: "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."
Intervale plans to invest additional capital to expand Aegis's geographic reach and to strengthen its product and service offering.
Existing Intervale portfolio companies include Proserv Group (offshore and subsea equipment and services), TEAM Oil Tools (completions equipment and services) and Allied Oil & Gas Services (cementing and acidizing services).
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