OFS Energy Fund News

October 30, 2013

Integral Oilfield Solutions completes the acquisition of ODS International’s assets

Houston – October 30, 2013 – Integral Oilfield Solutions (“IOS”), a newly formed, Houston-based business sponsored by OFS Energy Fund (“OFS”) and Mark Provine, recently acquired the assets of ODS International (“ODS”). Mark Provine, former CEO of Total Instrumentation & Controls, LP (“TIC”), will serve as CEO of IOS and will oversee the transition from ODS to IOS and IOS’ expansion plans.

“Over the past 15 years ODS has developed a broad product offering including a suite of highly engineered offshore rig equipment,” said Mr. Provine.  “We will continue to innovate our product offering and – with support from new access to capital – we’ll grow our service capabilities to better serve our customers.”

Bruce Ross, OFS’ Managing Partner, stated that “[OFS] is pleased to partner with Mark who has a proven track record of successfully growing offshore oilfield service companies by providing superior service to customers. The acquisition of ODS’s assets will provide IOS with a scalable platform to fulfill the high level of demand for offshore products and services including new drilling rig equipment, replacement equipment and inspection and maintenance services.”

About OFS
Houston-based OFS Energy Fund (“OFS”) is one of the few professionally managed private equity firms that specializes in acquiring and recapitalizing lower middle-market energy service companies. OFS seeks to provide capital to business owners including buyouts, recapitalizations and growth equity investments. The Fund supports the development of management, appropriate governance, professionalization of reporting and tracking of operating metrics. Additionally, OFS lends industry relationships, ideas for operational improvement and support in developing strategic growth plans and initiatives.

 

About Integral Oilfield Solutions
Integral Oilfield Solutions is a newly formed oilfield services business focused on providing engineered equipment and critical services to the offshore drilling industry.  IOS, based in Houston, is a partnership between OFS Energy Fund (financial sponsor) and Mark Provine (CEO) which initially acquired the assets of ODS International.  Mark Provine, the former CEO of Total Instrumentation & Controls, serves as CEO and will assist with integration and growth opportunities.

OFS Energy Fund
6363 Woodway Drive, Suite 900

Houston TX 77057
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Main Number: (713) 580-2727