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Knight Energy Services Acquires Platinum Pipe Rentals

PRIVATEJun 06, 2023

Acquiring Company

Knight

Acquired Company

Platinum

EnergyOil And GasVenture CapitalEnergyOil And Gas

Description

Knight Energy Services (“Knight”), a portfolio company of Voyager Interests (“Voyager”), today announced its acquisition of Platinum Pipe Rentals (“Platinum”). Platinum, headquartered in Odessa, Texas, is a leading drill pipe and tubing rental operation focused on the Permian Basin and the Eagle Ford Shale. Financial terms of the transaction were not disclosed.

Quick answer

Knight is acquiring Platinum, announced June 6, 2023.

How much did Knight pay for Platinum?
The deal value was not disclosed.
What does Knight do?
Headquartered in Houston, Texas and with 17 locations across the U.S., Knight specializes in serving the upstream oil and gas industry by providing a complete range of rental products for drilling, completion,..

Source: Fundz verified event record.

Other recent acquisitions in Energy and Oil And Gas

Deals where the buyer or target shares a sector with this one, within 45 days, from Fundz verified event records.

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Company Information

Company

Knight

About

Headquartered in Houston, Texas and with 17 locations across the U.S., Knight specializes in serving the upstream oil and gas industry by providing a complete range of rental products for drilling, completion, production and decommissioning applications, including drill pipe, tubing, tubular handling equipment, pressure control equipment and drilling jars. Learn more online at www.ke.services. ABOUT VOYAGER Voyager Interests, based in Houston, Texas, is a specialized private equity firm that is committed to investment in middle market energy services and equipment companies. With three platform oilfield service investments (four including add-ons) acquired in the past 15 months, we believe Voyager is the most active private equity firm in the sector today. The firm is actively seeking new platform investments with enterprise values up to $100 million, and also plans to invest in add-on acquisitions for existing portfolio companies. Voyager’s limited partner base is comprised primarily of Texas family offices and experienced energy entrepreneurs, which provide significant flexibility in the firm’s investments. Learn more online at www.voyagerinterests.com. ABOUT CLEARLAKE Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland.

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Frequently asked

Who acquired Platinum?

Platinum was acquired by Knight. The deal was reported on June 6, 2023. Knight is privately held and operates in Energy.

When did Knight acquire Platinum?

Knight's acquisition of Platinum was reported on June 6, 2023. Knight Energy Services (“Knight”), a portfolio company of Voyager Interests (“Voyager”), today announced its acquisition of Platinum Pipe Rentals (“Platinum”). Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Platinum do?

Headquartered in Odessa, Texas with a facility in Devine, Texas, Platinum is a leading provider of premium drill pipe and tubing rental services in west Texas. Learn more online at www.platinumpiperentals.com. It is privately held, operating in Energy.

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