Texas-based private equity firm (Pef) Black Bay Energy Capital said Wednesday’s it’s partnering with, and has invested in, Total Operations and Production Services (Tops), Kallanish Energy reports.
Tops is a compression products and services provider, specializing in gas lift applications in the Permian Basin.
“The Tops team is excited to partner with the Black Bay team. As we continue to experience higher demand from customers, Black Bay’s oilfield experience, industry relationships and investment capital will allow us to execute our ambitious growth plans and satisfy the needs of our customers,” said L.D. Green, president of Tops.
“Black Bay is thrilled to partner with L.D., Brian (Green) and the rest of the Tops team to capitalize on the market opportunity in gas lift compression and the broader electrification of the oilfield,” said Michael LeBourgeois, managing partner of Black Bay.
“The company’s impressive growth, the increasing use of gas lift systems in the market and Tops’ differentiated approach make this a very exciting investment for Black Bay.”
Fishman Haygood served as Black Bay’s counsel on the transaction. Cobalt Capital acted as financial advisor to Tops, and Atkins, Hollmann, Jones, Peacock, Lewis & Lyon served as Tops legal counsel.
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