February 28, 2017 1:57 pm
Growth Capital to fund New Contracts and Expansion into Multiple Basins
DENVER, February 2, 2017 – Gradiant Energy Services (GES), a provider of integrated water management solutions to the energy industry, announced today that it has secured a capital investment from Turnbridge Capital, LLC (“TCP”). The growth capital will help fund GES’ execution of new contracts and expansion into multiple basins around the United States.
“Finding the right financial and strategic partner was critical. GES was extremely focused on funding our growth plans with a firm that shared GES’ values of quality, safety and leading the industry in technological innovation with the highest level of service. Turnbridge absolutely shares these values,” said Danny Jimenez, CEO of GES. “I have been fortunate to see the Turnbridge team in action, there is no doubt GES will benefit from their vast strategic experience. With the proper capital support in place, we are ready to execute on our mission – providing an integrated solution for water management in all major domestic basins.”
GES is focused on deploying its three product and service lines in all major basins throughout the United States; Selective Chemical Extraction (SCE™) is a clean brine treatment service that allows for reuse of flowback and produced water in hydraulic fracturing; Carrier Gas Concentration (CGC™) is a mobile evaporative disposal service targeting disposal constrained environments; and Free Radical Disinfection (FRD™) is a fully mobile, safe and effective on-the-fly disinfection service. These turnkey services are targeted and applicable for all E&P operators, from small independents all the way to super-majors.
“GES is a technology based water management company focused on providing best in class service and value to its customers. They have superior technologies, invented at MIT, with a proven track-record and culture of safety and operational excellence. With GES’ commitment to new technology innovation through their parent company, Gradiant Corporation, this is an investment that will support both current and future opportunities,” said Rob Horton, Partner of Turnbridge Capital. “We are genuinely excited to partner with the management team and Gradiant Corporation to execute on the GES growth strategy.”
About Gradiant Energy Services
Gradiant Energy Services (GES) is an oilfield services company addressing the toughest water challenges through custom-engineered solutions and game-changing technologies. It serves oil and gas operators seeking economic, environmental and efficient treatment, reuse and recycle of water resources. Headquartered in Denver, Colo., GES is a technology company specializing in industrial water solutions and innovations. GES is owned by its original parent company, Gradiant Corporation, an MIT spin-out, based in Boston, and by Turnbridge Capital, an energy-focused private equity firm based in Texas. For more information, visit www.gradiantenergyservices.com.
About Turnbridge Capital
Turnbridge Capital is an energy-focused private equity firm with offices in Dallas and Houston, Texas.
Turnbridge seeks to invest alongside experienced management teams in companies that provide products and services to the upstream, midstream and downstream energy market segments. For more information, please visit the firm’s website at www.turnbridgecapital.com.