Platte River Equity related stories
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First River buys Texas GatheringPlatte River Equity said Thursday it made a follow-on investment in First River Energy LLC to facilitate its buy of Texas Gathering LLC. Financial temrs weren’t announced. Texas Gathering is a crude oil marketing and logistics company focused on servicing smaller independent oil producers.
- Platte River Equity buys Profile Products
Platte River Equity has acquired Profile Products LLC, which makes and markets products designed to minimize soil loss and accelerate seed germination. Platte River invested alongside management. The firm used capital from its third fund, Platte River Equity III, LP, to buy the company.
- Platt River forms First River Energy
Platte River Equity said Tuesday it is partnering with three midstream energy industry executives to form First River Energy. Denver-based First River will buy and develop midstream assets for the gathering of crude oil, condensates, natural gas liquids (NGLs) and other related products. The executives include Johan Thematt, Jim Imbler and Chris Philpott. Platte River didn’t disclose how much it would invest in First River but capital will come out of its third fund, Platte River Equity III LP.
- Platte River sells WellMark to Dover
Platte River has sold WellMark to Dover Corp. No financial terms were disclosed. Houlihan Lokey provided financial advice to WellMark on the transaction. Based in Oklahoma City, WellMark is a maker of flow control solutions for systems used in the oil, gas and petrochemical sectors.
- Platte River Equity exits Global X-Ray
Platte River Equity said Thursday that it has sold Global X-Ray & Testing Corp. to Intertek Group. No financial terms were disclosed. BlackArch Partners advised Global X-Ray in the transaction. Headquartered in Morgan City, Louisiana, Global X-Ray is a provider of non-destructive testing and mechanical integrity services to the offshore oil, gas and midstream industries.
- Platte River Equity names Whalen as managing director
Platte River Equity said Thursday that it has named Kris Whalen as managing director. Previously, Whalen worked at Vestar Capital Partners where he served as a managing director and co-head of diversified industries. Based in Denver, Colorado, Platte River Equity is a lower middle-market private equity firm. Update: Whalen is originally from Toronto, Ontario.
- Platte River Sells Hetsco
Platte River Equity has sold Hetsco to Global Power Equipment Group. Financial terms weren't announced. Greenwood, Ind.-based Hetsco provides emergency and planned repairs for brazed aluminum heat exchangers. St. Charles Capital served as financial advisor to Hetsco while TM Capital provided financial advice to Global Power.
- Platte River Equity Closes Third Fund on $405m
Platte River Equity has closed its third private equity investment fund, Platte River Equity III, L.P. Platte River launched fundraising in June of this year with an initial target of $350 million and exceeded this target with a hard cap of $405 million.
- Platte River Equity Buys WellMark
Platte River Equity has acquired The WellMark Company, an Oklahoma City-based manufacturer of liquid and pneumatic flow controls and valves serving the oil and gas and petrochemical industries. Terms of the deal were not released.
Denver Shop Secures $190.45M For Fund III, Changes NamePlatte River has raised more than $190 million for its third fund, and changed its name to better reflect its strategy.