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:
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 email@example.com or call 504.293.3600.