OFS Energy Fund News

August 10, 2018

OFS Energy Fund Portfolio Company Completes Sale of its Subsidiary, Terra Oilfield Solutions, LLC

Houston – August 10, 2018 – OFS Energy Fund (“OFS”) is pleased to announce that its portfolio company Terra Oilfield Services, LLC (“Terra Services”) has sold its subsidiary, Terra Oilfield Solutions, LLC (“Terra Solutions”) to Q’Max America, Inc. (“QMax”). The transaction closed on July 31, 2018. Terra Solutions has operated as a majority-owned subsidiary of Terra Services since June 2014, when the solids control assets of Environmental Drilling Solutions were purchased into the newly formed Terra Solutions.

 

Terra Solutions will be operated under Anchor USA, a Q'Max company. The combined company is positioned as a market leader in solids control with opportunities to grow based on exemplary service quality, safety, and footprint in key operating regions in the U.S.

 

“We are very pleased to announce the addition of Terra Oilfield Solutions to the QMax companies,” said Chris Rivers, Q'Max Chief Executive Officer. “Terra Solutions’ footprint, product and services offering, and customer base are highly complementary to Anchor USA’s existing solids control business.”

 

“OFS and Terra Services are excited to complete the sale of Terra Solutions. Partnering with Q'Max will allow Terra Solutions to continue to grow and provide superior drilling waste management and solids control services,”  said Jerad McMayon, OFS Partner.

 

About Q'Max America
Founded in 1993, Q'Max is a leading international oilfield services company that provides onshore and offshore drilling fluids, solids control, waste management and environmental solutions to the upstream oil and gas industry. Q'Max is a global business with operations in the U.S., Canada, Mexico, Latin America, the Middle East and Africa with its headquarters in Houston, TX, USA.

 

About OFS Energy Fund
Houston-based OFS Energy Fund is a private equity firm that specializes in acquiring and providing growth equity for lower middle-market energy service companies. OFS seeks to provide capital to business owners in the form of buyouts, recapitalizations, and growth equity investments. The Fund supports the development of management, appropriate governance, professionalization of reporting, and improving operational efficiencies to generate above average outcomes. OFS currently has in excess of $300.0 million of committed private equity capital under management across Fund II and Fund III. For more information please visit www.ofsfund.com.


 

OFS Energy Fund
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