Monomoy Capital Partners Announces Investment in Creedence Energy Services

Partnership with founder-led, value-added specialty chemicals distributor supports critical energy infrastructure

NEW YORK--(BUSINESS WIRE)--Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, announced today the completion of its platform investment in Creedence Energy Services, LLC. This transaction builds upon Monomoy’s value-added specialty chemicals distribution experience and extends its business services portfolio into the power and energy sector.

Founded in 2014 in North Dakota, Creedence is a leading independent provider of production and midstream chemical solutions that support asset integrity and optimize performance across critical energy infrastructure. The company develops, tests, blends and delivers tailored chemical solutions using advanced laboratory capabilities, proprietary formulations and responsive field service. Today, Creedence delivers more than 15 million gallons of chemical treatments annually from 22 locations across major U.S. oil and gas producing regions serving production wells, midstream pipelines and saltwater disposal facilities. The existing leadership team will continue to guide the business.

“Creedence was built on a commitment to service, safety and solving complex challenges for our customers,” said Creedence Co-Founder and CEO Kevin Black, who will retain a significant ownership interest. “Monomoy took the time to understand our business, our industry and, most importantly, our people. Together, we will continue investing in our team and technical capabilities while staying true to the values that have always set Creedence apart.”

“Kevin and his team have established Creedence as a leading production chemicals platform with a strong culture, deep customer relationships and a history of steady growth,” added Monomoy Managing Director Matt Farrell. “We believe Creedence has substantial runway, and our partnership will support geographic expansion and the development of new products and services. We are excited to provide the capital and resources to help Creedence capitalize on these opportunities.”

Ropes & Gray LLP provided legal counsel to Monomoy. KeyBanc Capital Markets Inc. served as financial advisor, and Gibson, Dunn & Crutcher LLP served as legal counsel to Creedence.

Monomoy and Creedence are actively evaluating additional partnerships with founder-operated market leaders in the chemical distribution and oilfield services space. For more information, please contact Head of Origination Renn Iaboni at [e-mail] or visit www.mcpfunds.com.

About Creedence Energy Services, LLC

Founded in 2014 and headquartered in Minot, North Dakota, Creedence is a leading independent provider of production and midstream chemical solutions to oil and gas operators across major U.S. producing basins. Creedence combines proprietary chemical formulations, advanced laboratory testing, blending capabilities and responsive field service to develop tailored programs that optimize production, protect critical assets and reduce equipment failures and downtime. Creedence’s solutions support existing production wells, midstream pipelines and saltwater disposal facilities, and include specialized scale remediation and production stimulation treatments. For more information, please visit www.creedence-energy.com.

About Monomoy Capital Partners

Monomoy Capital Partners is a private investment firm with over $5.3 billion in assets under management across a family of investment funds. Monomoy focuses on investing in manufacturing, distribution and services companies across industrial and consumer product sectors in North America. The firm is committed to providing middle-market businesses with strategic capital, management and operational expertise, and the ability to achieve sustainable success. Please see our website at www.mcpfunds.com for further information concerning Monomoy, its investment strategy and its portfolio companies.