OFS Energy Fund News

July 23, 2014

OFS Energy Fund Invests Growth Equity in Conquest Completion Services, LLC

The investment further expands the company’s expansion into the coiled tubing market


Houston – July 23, 2014 – OFS Energy Fund (“OFS”) and Colton Capital Partners, LLC (“Colton”) recently invested preferred growth equity into newly formed Conquest Completion Services, LLC (“Conquest” or the “Company"). Conquest acquired the operations and assets of CGS Rentals, LLC and its affiliated entity 5 Star Oilfield Services, LLC. OFS’ equity investment is being made to further expand the Company’s coiled tubing services division via the purchase of four new large diameter coil tubing unit spreads.


The Company will be headquartered in Shreveport, LA with field offices in South Texas. The Company currently services the coiled tubing market through the rental of its mixing plants and skimming units. OFS’ investment will allow Conquest to now provide operators with a turnkey solution for their coil tubing requirements by combining the coiled tubing units with mixing plants, skimming units and related tooling.


The existing management team will remain post-close and are all rolling a majority portion of their personal equity. The new coiled tubing division will be managed by Nathan Moore, a very experienced former completions superintendent. The Company will initially focus on opportunities in the Eagle Ford area of South Texas.


Bruce Ross, Managing Partner of OFS, stated that “We are excited to have the opportunity to partner with Conquest and the management team. The team at Conquest has done a very good job of positioning the Company for expansion into the large diameter coiled tubing market. Operators are continuing to increase the length of laterals, which further drives service intensity and the demand for large diameter CTUs for drill out operations. We believe that the underlying market will provide ample demand to support Conquest’s growth in the coming years.”


Alex Dempsey, President of Conquest, stated that “We are excited about partnering with OFS and have seen the value that they have been able to provide their other portfolio companies. What sets OFS apart is their industry experience and relationships. OFS has already begun to present us with strategic opportunities for revenue growth as well as potential candidates for various positions to be filled.”


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. OFS currently has under management in excess of $260mm of committed private equity capital across its Funds II and III. Additionally, OFS lends industry relationships, ideas for operational improvement and support in developing strategic growth plans and initiatives. For more information please see the web site: www.ofsfund.com


About Colton

Colton Capital Partners, LLC is a private equity firm that invests in oilfield services and equipment manufacturing and midstream sectors of the energy industry. Colton’s strategy is to partner with experience management teams and build successful companies.


About Conquest

Conquest Completion Services, LLC is an oilfield services company providing coiled tubing services, as well as surface equipment rentals, primarily serving the South Texas market. The Company is headquartered in Shreveport, Louisiana with additional field offices in South Texas.

OFS Energy Fund
6363 Woodway Drive, Suite 900

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