Boston-based Summit Partners has hired oil and gas veteran Mark Crews as an executive partner.
Crews will help identify investment opportunities and grow portfolio companies in the technology-enabled oilfield products and services sectors. He was previously a senior vice president and general manager of the oilfield division at Lufkin Industries, which makes oilfield pumping units and other products for the energy industry. Prior to Lufkin, Crews was a vice president of sub-sea technology at NYSE-listed oil and gas services company Cameron International.
“The technological innovation that is redefining the North American energy market is in the early stages of being exported to the rest of the world,” Crews said in a statement. “As a result, the opportunity to build leading energy product and technology companies has never been better.”
Summit completed one announced energy investment in 2013, according to its website, backing oil well intervention technology company Peak Well Systems.
Earlier this month, Summit promoted former principal Len Ferrington to managing director and former vice presidents Andy Collins, Jay Pauley and Matt Hamilton to principals.
Summit was founded in 1984 and has raised approximately $15 billion in capital. The firm maintains offices in Boston, Menlo Park and London.