Energy-focused private equity firm Intervale Capital has invested in Canadian wireline and completion services provider Tier 1 Energy Solutions alongside its management team.
Tier 1 is headquartered in Edmonton with a sales office in Calgary and has field operations in Nisku and Grande Prairie.
The company plans to expand its presence to cover the most active oil and gas producing regions in the Western Canadian Sedimentary Basin.
Intervale partner Erich Horsley said, “We are excited to back a top-notch management team with deep industry experience. Through a consistent focus on operational excellence, Kevin and his team have established an outstanding reputation with Canadian exploration and production companies over the course of their careers.”
Intervale Capital is currently investing though its second fund, which closed in September 2012, $26m above its hard cap on $376m.
It has more than $650m under management.
In July last year the firm hired former Falconhead Capital principal Jason Turowsky as vice president.
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