WASHINGTON--(BUSINESS WIRE)--NGP Energy Technology Partners (“NGP ETP”), a private equity firm focused on investing in energy technology and services, announced today that portfolio company Environmental Drilling Solutions ("EDS" or the "Company") was acquired by Element Partners, CSL Capital Management, and NorthSky Capital. NGP ETP will retain an interest in the Company. NGP ETP and management acquired EDS in 2009 and it has grown to become one of the leading providers of innovative solids control equipment and environmental solutions to oil and gas companies in high-growth U.S. shale formations. “NGP ETP has been focused on technology related investments in oil and gas since its inception in 2005 and our affiliation with NGP Energy Capital Management is a differentiating factor for us in this space,” said Managing Partner Philip J. Deutch. Michael LeBourgeois, NGP ETP Managing Director, stated “We are pleased with the sale and with the opportunity to retain an interest in the Company so we can continue our partnership with Kirby Arceneaux and Chad Hollier.”
About NGP Energy Technology Partners
NGP Energy Technology Partners ("NGP ETP") invests equity capital for growth and buyout transactions in companies that provide products and services to the oil and gas, power, energy efficiency, and alternative energy sectors. Founded in 2005, NGP ETP manages approximately $500 million in committed capital and is led by investment professionals that have extensive experience investing in virtually all types of energy technology. The investment team strives to partner with strong, experienced management teams and work with them to create significant value. NGP ETP is affiliated with NGP Energy Capital Management, a premier investment franchise in the natural resources industry, which together with its affiliates, has managed over $9.5 billion in committed capital since 1988. NGP ETP is headquartered in Washington, D.C. and has an office in New Orleans, LA.
About Environmental Drilling Solutions
Environmental Drilling Solutions (EDS), with headquarters in Lafayette, Louisiana, provides solids control services using its proprietary, patent-pending mobile and skid-mounted equipment in the Woodford, Granite Wash, Marcellus, Utica, Eagle Ford, Mississippi Lime, and Wolfberry; it is also increasing its presence in the Gulf of Mexico with innovative and safer techniques for collecting drill cuttings offshore. EDS employs over 250 trained staff members including experienced field service engineers to ensure professional installations and service to ensure trouble-free equipment and service to our customers. EDS also provides rig vacuum systems, storage tanks, pressure washers, and other related equipment and services.
For more information, please contact Philip Deutch at 202-536-3920.