September 4, 2014
Celerity Partners Completes Recapitalization of Well-Foam, Inc.
ODESSA, TX – September 4, 2014 – Celerity Partners is pleased to announce that it has completed the recapitalization of Well-Foam, Inc. Well-Foam, based in Odessa, Texas, is the leading provider in the Permian Basin of recovery enhancement and completion services, including foam and nitrogen injection, down hole fishing, laydown machines, well testing and flowback and pressure control. Kayne Anderson provided debt financing for the transaction.
Celerity is partnering with Well-Foam’s President, Robert Maxwell, and his existing management team, in growing the business. Transaction co-investors and incoming board members include Robert Ritchie and Michael Crabtree. Bob and Mike have over 60 years of senior level management experience in oil and gas operations, corporate development, power generation and/or distribution, exploration, extraction, midstream, pipeline and processing services around the world for Schlumberger Inc., TransCanada, BC Energy Services and Texaco.