Intervale Capital

Intervale Capital is a private equity firm established in 2006, with offices in Boston and Houston. The firm specializes in investments in oilfield manufacturing and service companies, focusing on buyouts and growth capital in the energy sector. Intervale Capital seeks to invest in platform companies and make add-on investments to enhance existing portfolio firms. It primarily targets high-growth opportunities in North America and Europe, leveraging its extensive network and operational expertise to improve company performance and management practices. The firm typically invests between $20 million and $175 million, with a preference for companies exhibiting an EBITDA of $3 million to $20 million. Intervale Capital has a strong track record, having led over 50 investments in the oilfield services space since its inception, with a strategic emphasis on acquiring control positions in its portfolio companies.

Patrick Connelly

Co-Managing Partner

Patrick Conroy

Principal

Will Donnell

Senior Associate

Shamez Hemani

Senior Associate

David Nemeskal

Principal

Ken Nguyen

Senior Associate

Kendal Reed

Senior Associate

Melissa Rocco

CFO and Cco

Christine Smoragiewicz

Chief Financial Officer and Chief Compliance Officer

Jason Turowsky

Co-Managing Partner

14 past transactions

Aegis Chemical Solutions

Private Equity Round in 2021
Aegis Chemical Solutions, LLC provides chemical treatment services and products for oilfield applications in the Permian Basin. It offers production chemicals and chemical programs; completion chemicals and application services for fracturing operations; and chlorine dioxide water treatment services. The company was incorporated in 2012 and is based in The Woodlands, Texas. It has locations in west Texas and eastern New Mexico. As of December 31, 2012, Aegis Chemical Solutions, LLC operates as a subsidiary of Mid-Chem, Inc.

Taurex Drill Bits

Private Equity Round in 2019
Manufacturer of diamond drill bits based in Norman, Oklahoma. The company designs manufacture, rents and sells matrix Poly Diamond Crystalline (PDC) bits, roller cone bits and production bits for drilling frac plugs on top surface or hole reopening applications and other completion operations.

Enercorp Sand Solutions

Private Equity Round in 2019
Enercorp Sand Solutions is a oil and gas energy company located in Calgary.

PDC Logic

Acquisition in 2018
PDC Logic, founded in the 1950s by Tommy Waitman, began as a company focused on reconditioning drill bits and servicing oilfield equipment. Over the years, it evolved into a full-service manufacturer and distributor of drill bits for the oil and gas industry, emphasizing customer service, performance, and cost-effective solutions. The company operates primarily in various oil and gas producing regions across the United States, providing a range of drill bits, including completion bits, through distributors and sales representatives. In October 2018, PDC Logic changed its name to Taurex Drill Bits, LLC, reflecting its commitment to delivering high-quality products and services while maintaining a focus on reducing drilling costs for its clients. The company is based in Norman, Oklahoma, and has established itself as a key player in the drilling industry.

Innovex International

Private Equity Round in 2017
Innovex International Inc specializes in the design, manufacture, and installation of essential solutions for drilling, well construction, completion, production, and fishing and intervention in the oil and gas industry. The company supports both onshore and offshore activities globally, offering a comprehensive portfolio that spans the entire lifecycle of a well. Innovex's innovative product integration facilitates smooth transitions between well phases, enhancing efficiency, reducing costs, and minimizing the service footprint at rig sites. With operational locations in North America, Latin America, Europe, the Middle East, and Asia, Innovex is equipped with technical expertise to meet the needs of its clients effectively.

Entegra, LLP

Private Equity Round in 2016
Entegra, LLP provides pipeline inspection services to pipeline operators. It also provides EHR MFL/caliper tools, inertial measurement tools, tethered solutions, and tools and services. The company is based in Indianapolis, Indiana.

TRANSFORM MATERIALS

Private Equity Round in 2015
Transform Materials, LLC., a process technology provider, develops and manufactures microwave plasma reactors for the low-carbon production of acetylene and hydrogen for large plants and small industrial applications. The company’s hydrocarbon process technology is used to convert methane/similar light hydrocarbon gases into co-products, such as hydrogen and acetylene that uses microwave-generated plasma to energize the methane in natural gas. Transform Materials, LLC. was formerly known as Transform Fuels LLC and changed its name to Transform Materials, LLC.in December 2017. The company was incorporated in 2014 and is based in Riviera Beach, Florida.

Tier 1 Energy Solutions

Private Equity Round in 2015
Led by experienced managers, employees and investors, Tier 1 Energy Solutions Inc. is focused on providing high-quality technical solutions that enable customers to make important drilling and completions decisions in an accurate, efficient and economic manner. Headquartered in Edmonton, Alberta, Tier 1 Energy Solutions is a privately owned, solutions focused, oilfield service company providing Cased Hole Wireline, Completions, Liner Hanger, and Thru Tubing services to the Western Canada oil and gas market.

FlexEnergy, Inc.

Private Equity Round in 2014
FlexEnergy, Inc. specializes in the design and manufacture of natural gas turbine systems and heat exchangers that generate clean energy and heat. The company’s primary products include the Flex Turbine GT250 and GT333 gas turbines, which effectively convert wasted or associated methane gas into electricity. Additionally, FlexEnergy provides solutions for the oil and gas industry, focusing on areas such as artificial lifts, drilling operations, flare reduction, and remote power for site operations. The company has also developed the FlexPowerstation, a compact power plant that utilizes low Btu fuels to produce electricity with minimal emissions. FlexEnergy serves various markets, including oil and gas production, combined heat and power generation, and waste management sectors. Its products are distributed through a network of offices and partners across the United States, Europe, South America, and Asia. Established in 2000, FlexEnergy is headquartered in Portsmouth, New Hampshire, with additional offices in North Dakota, Texas, and Alberta, Canada.
Milestone is a national oilfield environmental services provider with an environmentally focused, cost-effective, and efficient approach to managing oilfield waste. Milestone operates strategically located, state-of-the-art disposal facilities that provide dependable, local services for U.S. oil and gas operators.

Recapture Solutions

Acquisition in 2014
Recapture Solutions is part of the Triten Corporation group of companies, focused on offering oil and gas producers alternative options to flaring and equipment that utilizes well head gas as a fuel source to power production sites. Our services offer numerous advantages including significant reduction of regulated emissions levels and the ability to monetize an otherwise wasted resource. All equipment associated with our flare capture service is operated and maintained by us and requires no capital outlay or lease commitment from the producer. Besides creating value for producers by selling flared gas, Recapture's recovery equipment helps significantly reduce Carbon Dioxide (CO2), Volatile Organic Compounds (VOCs) and Hazardous Air Pollutants (HAPs) classified by the EPA. Emissions regulation is under increasing pressure at the state and federal level, and our services can help reduce emissions in some cases to within compliant levels.

Certus Energy Solutions

Private Equity Round in 2013
Certus Energy Solutions, LLC operates as a oil field equipment rental company and offers tools and pipes on rent to oil and production companies. Its products include drill pipes, down hole products, and oil country tubular goods. It also offers tools maintenance services. The company was founded in 2012 and is based in Houston, Texas.

Soane Energy

Venture Round in 2009
Soane Energy is developing and applying innovative chemical solutions based on polymers and surface science to help meet this worldwide "hunger for energy" in a practical, immediate and environmentally responsible way. Through its contributions to the energy industry, Soane Energy believes it will have a profound effect on improving the health of the planet while generating significant returns to company shareholders.

Proserv

Private Equity Round in 2009
Proserv is a production technology and services company that caters to the energy industry, specializing in subsea and topside control systems for both oil and gas and renewable sectors. With a global presence, employing nearly 850 people across over 20 operating centers in 10 countries, Proserv offers a comprehensive range of products and services designed to support the entire oilfield lifecycle. The company focuses on delivering electrical systems, wellhead control panels, chemical injection systems, emergency shutdown devices, hydraulic power units, and master control stations. Proserv's innovative solutions aim to maximize recovery, minimize costs, and enhance sustainability while maintaining high standards of service, quality, and reliability. The company places significant emphasis on engineering expertise and field-proven technologies, recognizing that its skilled workforce is pivotal to its success and achievements.