Syntaxis Capital has provided financing in support of the founders’ buyout and strategic development of Expert Petroleum, through its second mezzanine fund.
Expert Petroleum, primarily based in Romania, is an oil and gas services business that partners with some of the largest owners and operators in the oil and gas industries through long term contracts in order to increase production on their marginal and mature fields.
Coupled with the founders’ buyout, funds provided by Syntaxis will support the development of the company’s production-enhancement activities across Romania and internationally.
Aleksander Majewski, the Syntaxis director responsible for the investment, says: “We are delighted to be supporting such an experienced management team, with such ambitious plans. They combine a wealth of technological know-how with a long-standing pedigree in international and local markets. As an investment thesis we liked the business development potential, coupled with stable cash flows associated with long-term contracts.”
David Martinon, co-founder and CEO of Expert Petroleum, says: “We are delighted to be partnering with Syntaxis. They have shown that they are transparent, responsive and committed to helping us build our business. We look forward to working with them over the years ahead.”
Syntaxis was advised by Macfarlanes in London and Deloitte, CMS Cameron McKenna and SpenCo in Romania. Expert Petroleum was advised by Leroy & Associatii in Romania and Bonn Steichen & Partners in Luxembourg.
