Key Takeaways
- • Monomoy Capital Partners has completed a platform investment in Creedence Energy Services, an oilfield chemical treatment provider, with terms not disclosed.
- • The deal is an exit for Tower Arch Capital, which partnered with Creedence in 2019 and backed add-on acquisitions, system upgrades and scale expansion.
- • Creedence supplies more than 15 million gallons of chemical treatments annually from 22 locations across the Bakken, Permian, Anadarko, Haynesville, San Juan and Powder River basins.
- • Monomoy plans to support geographic expansion and new products and services, and co-founder and CEO Kevin Black will retain a significant ownership stake.
Summary
Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, has completed a platform investment in Creedence Energy Services, according to the company's announcement. Terms of the transaction were not disclosed. The deal represents an exit for Tower Arch Capital, which partnered with Creedence in 2019 and supported add-on acquisitions, system upgrades and expansion of the company's scale.
Creedence develops, tests, blends and delivers chemical treatments for oil and gas production wells, midstream pipelines and saltwater disposal facilities. The company supplies more than 15 million gallons of chemical treatments a year from 22 locations, supported by laboratory capabilities, proprietary formulations and field service. Founded in 2014 in North Dakota, it serves operators primarily in the Bakken, Permian, Anadarko, Haynesville, San Juan and Powder River basins.
Under Monomoy's ownership, the company plans to pursue geographic expansion and introduce new products and services. Co-founder and CEO Kevin Black will retain a significant ownership stake, indicating continuity in management alignment following the transaction.
Creedence develops, tests, blends and delivers chemical treatments for oil and gas production wells, midstream pipelines and saltwater disposal facilities. The company supplies more than 15 million gallons of chemical treatments a year from 22 locations, supported by laboratory capabilities, proprietary formulations and field service. Founded in 2014 in North Dakota, it serves operators primarily in the Bakken, Permian, Anadarko, Haynesville, San Juan and Powder River basins.
Under Monomoy's ownership, the company plans to pursue geographic expansion and introduce new products and services. Co-founder and CEO Kevin Black will retain a significant ownership stake, indicating continuity in management alignment following the transaction.
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