Harris Williams & Co. Advises Flogistix on its Sale to White Deer Energy

December 12, 2014

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Flogistix, LP (Flogistix), a portfolio company of Natural Gas Partners and NGP Energy Technology Partners (collectively NGP), to White Deer Energy (White Deer). Flogistix is a leading provider of technology-enabled production optimization equipment and services for the oil and gas industry. The transaction, which closed on December 12, was led by Brian Lucas, Drew Spitzer, Luke SempleMatt White and Jay Beekman of Harris Williams & Co.’s Richmond office.

“Flogistix provides solutions to optimize production, enhance well economics and minimize environmental impact throughout a well’s lifecycle,” said Brian Lucas, a managing director in Harris Williams & Co.’s Energy & Power Group. “Flogistix has achieved impressive organic growth under NGP’s ownership and is well positioned to continue its current trajectory. Flogistix has found a great partner in White Deer, and we look forward to following the company’s continued success.”

“Flogistix is truly a differentiated platform. The company’s suite of production optimization solutions, engineering and technological leadership and broad geographic reach enable its customers to address complex problems throughout their operating footprints,” said Luke Semple, a director in the firm’s Energy & Power Group.

“It was a pleasure working with Harris Williams & Co. again,” added Mims Talton, president and CEO of Flogistix. “The team ran a professional, top-notch process and delivered valuable market and business insight throughout our engagement. As a repeat client, I couldn't have been more impressed by their client service and couldn’t be happier with the result.”

Headquartered in Oklahoma City, OK, Flogistix is a leading provider of production optimization solutions. Flogistix offers an integrated and comprehensive product line of compression systems utilizing its proprietary Logix PLC and patent-pending Multi-StreamTM systems, which enable a range of end-use applications from a single compression system, including wellhead compression, vapor recovery and artificial lift optimization. With over 200 employees and 20 locations in major oil and gas regions across the continental U.S., Flogistix has the operational size and geographic breadth to service clients regardless of size or location.

Founded in 1988, Natural Gas Partners is a family of private equity investment funds with cumulative committed capital of over $14.5 billion since inception, organized to make investments in the natural resources sector. Natural Gas Partners is part of the investment platform of NGP Energy Capital Management, a premier investment franchise in the natural resources industry, which together with its affiliates has managed over $17 billion in cumulative committed capital since inception.

NGP Energy Technology Partners (NGP ETP) invests equity capital for growth and buyout transactions in companies that provide products and services to the oil and gas, power, environmental, energy efficiency and alternative energy sectors. Founded in 2005, NGP ETP manages approximately $500 million and is led by investment professionals that have extensive experience investing in virtually all types of energy technology. The investment team strives to partner with strong, experienced management teams and work with them to create significant value. NGP ETP is an affiliate of NGP Energy Capital Management.

White Deer Energy is an energy private equity firm focused on the exploration and production, oilfield service and equipment manufacturing and midstream sectors of the oil and gas industry. With $2.2 billion of capital commitments across two private equity funds, White Deer Energy is a long-term investor targeting equity investments of $50 to $150 million. With offices in Houston and New York, White Deer Energy has a combination of industry expertise and capital that makes it an attractive partner for rapidly growing energy companies.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.

Harris Williams & Co.’s Energy & Power Group has experience across a broad range of sectors, including oil and gas equipment and services, industrial and infrastructure services, and power products and technology. For more information on our energy and power experience, please visit the  Energy & Power Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.