LongueVue Capital Invests in Professional Rental Tools
LVC Partners with Management Team to Support Growth of Deepwater Services Company
New Orleans (June 3, 2015) - LongueVue Capital (“LVC”), a New Orleans-based private equity firm, announced today it has invested both growth equity and mezzanine capital in Professional Rental Tools (“PRT”), a leading provider of stabilization and support equipment for oil and gas companies in the deepwater Gulf of Mexico.
Headquartered in Lafayette, LA, the Company’s equipment and services are mission-critical for operators to safely and efficiently perform completion, maintenance, and plug & abandonment activities on deepwater wells. As a leader in quality and safety, PRT’s client base includes major and supermajor oil and gas operators and top-tier service companies operating in the Gulf of Mexico. The Company has additional offices in Houma, Houston, and Corpus Christi.
LVC partnered with the current management team and Connecticut-based Ironwood Capital to facilitate the transaction. “PRT has an impressive track record of growth in a sector of oilfield services where the bar for performance and quality is set very high,” said Rick Rees, Co-founder and Managing Partner of LongueVue Capital. “We are very excited about the opportunities ahead of PRT and our new partnership with the management team.”
Andrew Robertson, Chief Executive Officer of PRT, commented, “LongueVue Capital and Ironwood Capital are ideal partners for PRT. We are thrilled to welcome them into the PRT family.” Patrick Placer, President of the company, echoed, “We look forward to the next stage of PRT’s growth. Our new partnership provides PRT with additional resources to continue serving the growing needs of our customer base.”
About LongueVue Capital:
LongueVue Capital is a private equity company focused on making situation-driven, value-oriented equity and debt investments in lower middle market companies (up to $100 million in annual revenue) to support buy-outs, recapitalizations, acquisitions and growth. Since its formation in 2001, LVC has made successful investments in a wide variety of industries, including energy services, logistics, electrical and instrumentation services, wireless technology, manufacturing, and healthcare services. LVC is based in New Orleans with additional offices in New York and Salt Lake City. For more information, please visit www.lvcpartners.com.
For inquiries, please contact firstname.lastname@example.org or call 504.293.3600.
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