OFS Energy Fund News

October 30, 2015

OFS Energy Fund Completes Majority Recapitalization of The Allied Power Group, LLC

Houston – October 30, 2015 – OFS Energy Fund (“OFS”) has completed a majority recapitalization of The Allied Power Group, LLC (“Allied”), a Houston-based industrial gas turbine (“IGT”) repair, services, and parts provider. Allied’s leadership team consisting of Bruce Agardy (CEO), Louis Green (COO), and Jollin D’Souza (President) has developed a clear plan for product line and service expansion, which will be funded by financial flexibility afforded through the recapitalization and OFS Energy Fund III’s continued capital support.

 

“The team at Allied has worked hard to develop a compelling business in four areas: IGT repairs, IGT field service, IGT parts, and oil and gas machining.  OFS is excited about the opportunity to partner with this team to invest in the continued development of this plan.” said Jerad McMayon, Partner of OFS.

 

“I am excited to partner with OFS, which has a significant track record of success.  Their industry experience and relationships as well as their Board participation will be invaluable as we continue to execute the growth plan for Allied.” Agardy said, “OFS was resourceful and worked efficiently to conclude our transaction.”

 

Duff & Phelps Managing Director Martin Rubio acted as exclusive financial advisor to Allied.

 

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 Allied
Allied Power Group, LLC provides repairs, field service, and replacement parts for industrial gas turbines as well as oil and gas equipment machining.  For more information, please visit www.alliedpg.com.

 

About Duff & Phelps
Duff & Phelps is the premier global valuation and corporate finance advisor with expertise in complex valuation, dispute and legal management consulting, M&A, restructuring, and compliance and regulatory consulting.  Duff & Phelps has more than 2,000 employees located around the world. For more information, please visit www.duffandphelps.com.
 

OFS Energy Fund
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Main Number: (713) 580-2727