[Context: On December 4, Simmons & Co. announced that it advised Global Energy Capital-backed Premium Oilfield Technologies in a sale to an undisclosed investor. Further details and related links are below.]
Simmons advises Premium Oilfield Technologies on a recent transaction
12/4/2017 – Transaction Information: Premium Oilfield Technologies (“Premium”), a portfolio company of Global Energy Capital (“GEC”), has been acquired by an undisclosed investor.
Premium designs, engineers and distributes technologically differentiated expendable products related to the fluid end of drilling rig mud pumps, including pistons, liners, valves, seats, handling tools and mud valves. Through its patented Sur-Lock(TM) and Sur-Drive(TM) product lines, Premium provides innovative mud system upgrades which improve drilling productivity while increasing rig safety. Premium was founded in 2004 and was recapitalized by GEC in 2013.
Global Energy Capital, based in Houston, is a private equity firm focused on investing growth capital in private energy companies. GEC has helped management teams grow companies in most of the oil and gas producing markets globally.
Simmons & Company International® | Energy Specialists of Piper Jaffray® served as the exclusive financial advisor to Premium in the transaction.