Private equity firm Advent International has acquired BOS Solutions, a provider of drilling fluid treatment and recovery solutions to oil and gas exploration and production companies.
Along with the acquisition of equity from existing shareholders, Advent has also provided BOS with access to the necessary capital to execute on its growth and expansion strategy.
The current BOS management team, led by president and chief executive officer Glenn Leroux, will retain a significant ownership interest in and continue to lead BOS.
Founded in 2001, BOS has operations in most major North American oil and gas regions.
"Advent’s investment comes at an important stage in our growth," says Leroux. "Demand for oil and gas remains strong and concern about the environmental impact of drilling activity has never been greater. Over the past few years, our customers have clearly recognised the value proposition of the technological and service capabilities of BOS, and we are experiencing an incredible demand for our specialised solutions. The added resources and expertise that the Advent team brings to bear will help us meet this demand and continue to grow and expand."
"The oil and gas services and equipment sector is an important area of focus for Advent globally," says Advent managing partner David McKenna. "Our investment in BOS exemplifies our unique approach to securing attractive investment opportunities in our core industry sectors. We look forward to working with Glenn and his team to realise BOS’ full potential and further expand the company’s geographic reach, technology and product offerings."
