Denver-based private equity firm acquires manufacturer of flow control products for the oil and gas and petrochemical industries
Denver, CO-based private equity firm Platte Platte River Equity has increased its presence in the oil and gas space with the acquisition of The WellMark Company LLC. Oklahoma City, OK-based WellMark manufactures liquid and pneumatic flow controls and valves serving the oil and gas and petrochemical industries.
Platte River Principal Mark Brown said, "The significant development of unconventional resources in North America has driven the need for continued build-out of production and pipeline infrastructure. We believe that the acquisition of WellMark provides an opportunity to capitalize on these growing demand trends and establishes a solid platform for future investments in the flow control industry."
Bartlit Beck Herman Palenchar & Scott LLP served as legal counsel, and St. Charles Capital served as buy-side advisor to Platte River. Madison Capital Funding LLC provided senior debt financing for the transaction.
Platte River Equity is a private equity firm focused on investments in lower middle market operating companies with enterprise values generally between $20 million and $250 million, as well as strategic add-on investments. The firm focuses on investing in the aerospace and transportation; energy and industrial services; and chemicals, metals and industrial minerals sectors. Platte River Equity manages funds with committed capital of approximately $700 million.