Private equity invests in US oilfield chemical firm Aegis Chemical

11 January 2013 16:21  [Source: ICIS news]

HOUSTON (ICIS)--Intervale Capital has made an investment in Aegis Chemical Solutions, a Texas-based oilfield chemicals and water treatment company, the private equity firm said on Friday.

Aegis provides oil and gas production chemicals and chlorine dioxide treatment services to customers in major oilfield markets, with a focus on the Permian Basin of west Texas and southeastern New Mexico.

The transaction merges Aegis with Mid-Chem, a Midland-based production chemicals business in Texas, and positions Intervale as the majority owner of Aegis, it said.

Intervale plans to invest additional capital to expand Aegis's geographic reach and product and service offering, it said without disclosing financial details.

“We believe there is a tremendous opportunity for Aegis to expand its products and services within its existing Permian Basin footprint and to other major producing regions," said Intervale managing partner Charles Cherington.

Massachusetts-based Intervale Capital is an energy-focused private equity firm that invests exclusively in middle-market oilfield services and manufacturing companies and related technologies.

By: Stefan Baumgarten
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