Allied Oil & Gas Services, a cementing and acidizing business headquartered in Fort Worth, Texas, has been acquired by Intervale Capital, a private equity firm focused on investments in middle-market oilfield services companies.
With locations in Kansas, Pennsylvania and West Virginia, Allied provides cementing and acidizing services to customers in the Mid-Continent and Marcellus Shale regions. Allied has a broad customer base of exploration and production companies and has distinguished itself as a provider of choice over its 45 year operating history. Wells Fargo & Company provided debt financing to support the transaction.
Allied’s operations will be led by CEO Thomas "Mac" McDaniel and COO Pat Saunders.
"The Allied team is extremely excited to partner with Intervale Capital to grow our business. The transaction enables Allied to continue its focus on superior service quality, while investing heavily in new equipment and geographic expansion," says Mac McDaniel.
Erich Horsley (pictured), a Partner at Intervale Capital, says: "Allied is an excellent fit with Intervale’s strategy of backing differentiated service companies in attractive sub-sectors of the oilfield services industry. We look forward to partnering with management to further accelerate the company’s growth."
Existing Intervale portfolio companies include Ulterra Drilling Technologies (PDC drill bits and downhole tools), Casedhole Solutions (wireline services), Proserv Group (offshore and subsea equipment and services), Team Oil Tools (completions equipment and services) and Impact Fluid Solutions (drilling fluids additives).
