OFS Energy Fund News

June 29, 2018

OFS Energy Fund Completes Majority Recapitalization of Ace Completions LLC

Odessa, Texas – June 29, 2018 – OFS Energy Fund (“OFS”) has completed a majority recapitalization of Ace Completions LLC (“Ace”), a west Texas-based provider of completion chemicals, wellhead services, and transportation and logistics services. Ace’s leadership team consisting of Jody Ehler (CEO), Jeff Louis (CDO), and Ben Nickens (COO), has developed a clear plan to grow the business through product line and geographic expansion, which will be funded by financial flexibility afforded through the recapitalization and OFS Energy Fund III’s continued capital support.

 

Ace Completions was founded in 2012 by Jody Ehler and Jeff Louis in Odessa, Texas to provide ceramic proppant and other chemical products in the Permian Basin. The company has expanded its product offering to include guar powder/guar slurry, hydrochloric acid products, and friction reducers, and its services to include chemical importing, toll blending, well site coordination, storage, inventory reporting, and delivery. The company operates out of its 30-acre property with a rail spur in Odessa, Texas, which in partnership with OFS, Ace plans to further develop to expand Ace’s operational capacities and centralize the business operations.

 

“We have known the Ace team since 2014 and were impressed with the team’s resourcefulness in navigating the oilfield downturn in 2015 and 2016. Ace has capitalized on the market recovery and is well positioned to take advantage of favorable market trends in the completions chemical space. We are extremely excited about the opportunity to partner with the Ace team to help support their vision for Ace.” said Jerad McMayon, Partner of OFS.

 

“We feel very blessed to partner with OFS,” said Jody Ehler. “Their industry experience and relationships as well as their Board participation will be invaluable as we continue to execute the growth plan for Ace. We are extremely excited about our future.”

 

About OFS
OFS Energy Fund is a Houston-based private equity firm specializing in acquisitions and recapitalizations of middle-market companies in the energy industry with enterprise values between $5 million and $100 million. For more information, please visit www.ofsfund.com.

 

About Ace Completions LLC
ACE Completions provides completion chemicals, wellhead services, and transportation and logistics services primarily in the Permian Basin. The Company is headquartered in Odessa, Texas. For more information, please visit www.acecompletions.com.

 

OFS Energy Fund
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