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Cotton Creek, Yorktown invest in Texan oil & gas group Terrace Energy

28 Feb 2012

US lower mid-market private equity firm Cotton Creek Capital Management has made a further investment in Terrace Energy, a Texas-based oil and gas, exploration and production company concentrating on the acquisition of assets in North America, alongside new investor Yorktown Partners.

Based in Fort Worth, the business buys and develops properties in the East Texas Basin. Cotton Creek formed Terrace in October 2010 and has been actively acquiring properties over the past year. Financial terms of the deal were not disclosed.

Cotton Creek Capital is a Dallas-based private equity firm focused on investing in and growing established lower mid-market companies in manufacturing, value-added distribution, industrial services, energy, business services, healthcare services and consumer staples.

The firm invests in companies with enterprise values of between $15m and $200m through transactions ranging from buy-outs, recapitalisations, buy-and-builds, and corporate divestitures to selected minority investments.

Yorktown Partners is a New York City-based private equity firm focused on oil and gas and commodity-driven investments. The firm is currently investing its ninth fund, and has invested $4.2bn over 65 investments since 1991.

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