Tower Arch Capital completed the sale and recapitalization of Creedence Energy Services by Monomoy Capital Partners, concluding a partnership that began in 2019.
Creedence is a nationwide production and midstream chemicals services provider serving the oil and gas industry.
The company develops customized chemical programs designed to help customers optimize production and protect infrastructure across production wells, midstream pipelines, and saltwater disposal facilities.
Creedence primarily serves operators across the Bakken, Permian, Anadarko, Haynesville, San Juan, and Powder River basins.
The company has more than 275 employees across 22 locations and serves more than 200 customers.
During Tower Arch Capital’s ownership period, Creedence expanded its scale and completed initiatives including add-on acquisitions and technology and systems upgrades.
Tower Arch said the investment reflected its strategy of partnering with family- and founder-led middle-market businesses and supporting their growth.
Creedence and Tower Arch were advised by KeyBanc Capital Markets and Gibson, Dunn & Crutcher.
Financial terms of the transaction were not disclosed.
KEY QUOTES:
“I am very proud of what the entire Creedence team has been able to accomplish since partnering with Tower Arch in 2019. Tower Arch has been instrumental in supporting us through several strategic and tactical initiatives such as add-on acquisitions and system implementations and upgrades, all while being great partners to Creedence.”
Kevin Black, Co-Founder and CEO of Creedence Energy Services
“Creedence is representative of Tower Arch’s focus on partnering with and growing family- and founder-led businesses to help them achieve their full potential while delivering superior outcomes for our investors. We are excited to see what Creedence accomplishes next.”
Ryan Stratton, Partner at Tower Arch Capital
