OFS Energy Fund News

May 30, 2014

OFS Energy Fund Invests Growth Equity in Bold Production Services

The investment positions the company for continued expansion of its rental fleet

 

Houston – May 30, 2014 – OFS Energy Fund II (“OFS”) closed on an additional $5.0 million investment of growth equity in Bold Production Services, LLC (“Bold”) to support its expansion. Bold was founded in late 2013 to fill a void in the rental market for high quality, readily available flow back and production equipment.  OFS initially invested $5.0 million of seed capital in December 2013. Additionally, management – along with a handful of strategic partners – invested $3.0 million of cash equity in early 2014 bringing the total equity invested to $13.0 million. This secondary equity investment from OFS was accelerated due to the overwhelming demand for Bold’s products in the market.

 

“We are excited about the market’s acceptance and validation of Bold’s initial business model” said Bruce Ross, Managing Partner of OFS. “We’re confident that Bold’s management team has the experience and motivation to build a market leading flowback and production equipment provider.”

 

Glen Wind, CEO of Bold, commented, “with our strong operational experience and OFS’ continued support with capital and deal flow, Bold management expects that 2014 will be a year of rapid growth both organically and through opportunistic acquisition opportunities.”

 

About OFS
Houston-based OFS Energy Fund 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. For more information please see the website: http://www.ofsfund.com/

 

About Bold Production Services
Bold Production Services, LLC is an infrastructure resource company which provides well testing, flowback and bulk separation equipment to the oil and gas industry.  Bold, founded in late 2013, is based in Houston, Texas and has equipment working in most major shale basins in the US.  For more information please see the website: http://www.bps-llc.com/

OFS Energy Fund
6363 Woodway Drive, Suite 900

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