Riata Capital Group (“Riata”) today announced it has closed on its strategic partnership withExtract Production Holdings , LLC (“Extract”or the “Company”), a fully-integrated provider of artificial lift systems and related parts and services to North American energy producers, to support the Company’s organic and acquisition-driven growth initiatives. Terms of the transaction were not disclosed.
Based in Tulsa, Oklahoma, Extract provides comprehensive artificial lift solutions and related surface pressure applications for its customers and is currently focused on both electric submersible pump (ESP) solutions and related horizontal pump (H-Pump) systems, parts and services under the Extract Production Services and Hoss Pump Systems brands. Operating primarily in the Mid-Continent and Permian Basins, Extract plans to increase its presence considerably in both regions as well as add adjacent forms of artificial lift systems and services to fulfill its costumers’ requirements across a wider spectrum of producing environments.
Regarding Riata’s investment, Brad Goebel, CEO of Extract, said, “Having worked with and enjoyed considerable success with Riata’s principals in our previous artificial lift platform, having generated over 5x invested capital, our team is excited to have Riata as a partner. Their capital, experience and strategic support will further equip us to serve our customers while facilitating the accelerated growth of our capabilities, our footprint and the Extract brand.”
Barron Fletcher, Managing Partner of Riata, said, “We are excited to re-enter the artificial lift category that we know so well and partner with Brad and his exceptional team of operators. As a critical, production-related service category, the artificial lift market continues to be driven by strong secular demand from energy producers to help them meet their production needs. With deep industry experience and customer relationships, best-in-class ESP and H-Pump systems and services offerings, and exceptional leadership, Extract is well positioned to become a formidable platform in the $5.5 billion North American artificial lift services market.”
About Riata Capital Group
Riata Capital Group is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately-held companies across North America with a focus on three industry sectors: business services, consumer, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of Riata have sponsored over 146 acquisitions representing over $4.5 billion in transaction value. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm's core sectors, Riata provides a compelling value proposition to business owners and entrepreneurs. For more information, please visit www.riatacapital.com.