In RMR’s continuing series The Money Backers, we give readers a glimpse of who’s who and who owns what in energy’s private equity world. From the largest to the smallest to the newest, we look especially at those firms making hay in the midstream industry to provide the capital infusion required to give growth projects liftoff.
With offices in Dallas and Houston, Turnbridge Capital Partners has carved out a niche in the oil and gas industry with investments exclusively in the energy services and equipment sphere. This private equity firm targets service providers and manufacturers whose customers lie in the upstream, midstream and downstream sectors, and looks for investment opportunities between $25-$100 million.
Turnbridge Capital Partners
Turnbridge Capital Partners is a private equity firm targeting investments in middle-market service providers and equipment manufacturers that sell into the energy and infrastructure industries.
Among its nine portfolio companies, Houston-based Cimarron Energy has experienced a serious growth spurt that expands its footprint in emissions control and environmental systems in a big way. With the recent announcement of the company’s second acquisition inside of a year, financial backer Turnbridge is clearly putting its chips on the latest process technologies to reduce emissions across the oil and gas complex.
A quick look:
- Cimarron in July 2019 acquired Midland, Texas-based Hy-BON/EDI, which specializes in low-pressure gas management systems. According to the company’s history, the founder developed the first vapor recovery unit back in 1952. Today, Hy-BON/EDI’s product offerings include gas booster systems, casinghead pressure reducing units, compressor packages, and VRUs that operate in more than 20 countries.
- Fast forward to May 2020 and Cimarron’s acquisition of Austin-based Aereon, which engineers flares, enclosed combustors, thermal oxidizers, and VRUs found in more than 46 countries.
- Combined, the two acquisitions catapult Cimarron Energy from a nationwide supplier to a global provider with offices on four continents and a multi-brand recognition that lifts this 50-year-old manufacturer into the stratosphere.
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