Mon, 18/08/2014 - 12:07
Private equity firm Intervale Capital has acquired Recapture Solutions from Triten Corporation.
Recapture provides flare reduction and natural gas power solutions to oil and gas production companies in the Permian, Williston (Bakken) and DJ (Niobrara) basins.
Intervale is a private equity firm which invests exclusively in oilfield manufacturing and service companies.
In association with the transaction, Jason Arnoldy has been named chief executive officer of Recapture and Cary Ratterree has been named president. They co-founded Recapture in 2012.
Arnoldy says: "Since inception, Recapture's goal has been to provide a gas capture solution that offers a clear economic benefit for our clients, while substantially reducing the environmental impact of flared gas. Reducing natural gas flaring is a challenge for our industry and we are wholly committed to providing innovative gas capture and natural gas power solutions to our clients. Our partnership with Intervale will accelerate growth in key markets as we seek to expand our service offering to include a comprehensive suite of natural gas solutions. Intervale's industry relationships and oilfield services expertise make it an ideal partner for Recapture."
Charles Cherington, managing partner at Intervale, says; "We look forward to partnering with Recapture and its talented management team. We are committed to supporting the company's long-term geographic and service line expansion. Jason and Cary have built an impressive business in a short amount of time. The industry and public recognise natural gas flaring is a waste of our nation's valuable natural resources and we are excited to join with Recapture to develop a comprehensive solution."
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