LongueVue Capital Acquires Controlling Interest in Blue Dot Services
New Orleans private equity company invests in the leading oilfield services company in the Marcellus Shale
New Orleans, LA; February 8, 2010 – LongueVue Capital, LLC has announced that it has acquired controlling interest in Blue Dot Energy Services, LLC (“Blue Dot” or the “Company”), of Bridgeport, WV. LongueVue partnered with Company founder Andy Lang, who will remain with the company as CEO, to complete the equity investment.
Blue Dot is the leading oilfield rental tool and equipment provider in the rapidly growing Marcellus Shale and the broader Appalachian Basin. In addition to renting tools and equipment, the Company also offers on-site living quarters, wireline services, field support services, and equipment repair and threading services for drillpipe and downhole tools.
Blue Dot was founded in 1998 by Andy Lang. The Company has grown steadily over the past decade by expanding its rental tool fleet and adding complementary services, while simultaneously opening multiple locations to serve the entire Appalachian Basin. LongueVue’s investment will better position Blue Dot to advance its growth strategy and continue to meet the needs of its customers in the rapidly expanding Appalachian market.
LongueVue Capital’s General Partner John C. McNamara said, “We are enthused to partner with entrepreneur Andy Lang and the Blue Dot team to take advantage of the tremendous growth opportunity in the Marcellus Shale. Andy has built a successful business by providing the most complete rental tool and equipment portfolio in the Appalachian Basin coupled with top notch customer service. This business has no equal in the Appalachian market.”
About LongueVue Capital:
Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 18-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. Having managed over $500 million of capital spanning three funds coupled with 150 years of combined operating and investing experience, our team is the ideal partner for middle market companies at inflection points and seeking to maximize value.
Our opportunistic investment strategy provides the flexibility to partner with attractive businesses across a variety of industries and situations, and we tailor transaction structures to meet the company and stakeholders’ objectives. While we are selective with our investment strategy, we target growth-oriented companies with scalable, sustainable business models and exceptional leadership teams.
Our proactive, hands-on approach enables us to be thoughtful stewards of our portfolio companies and trusted and dependable strategic partners to all stakeholders. Together with our entrepreneur and management team partners, we help create superior value for our portfolio companies and investors.
To learn more about LongueVue Capital, please visit our website at www.lvcpartners.com.
For inquiries, please contact firstname.lastname@example.org or call 504.293.3600.