New Orleans (April 24, 2012) - LongueVue Capital (“LVC”), a New Orleans-based private equity firm, announced today it has invested $5.0 million of mezzanine capital in Blue Dot Energy Services, LLC (“Blue Dot”), a leading provider of oilfield services in the Appalachian Basin.
Founded in 1998 and headquartered in Bridgeport, West Virginia, Blue Dot provides a broad array of missioncritical oilfield services to E&P companies and drillers operating in the prolific Marcellus Shale and the burgeoning Utica Shale. Blue Dot’s services include rental tools and equipment, fishing services, rig-site accommodations, completion services, equipment testing, and API-certified manufacturing. The company operates from four facilities located in West Virginia, Pennsylvania, Ohio, and Kentucky.
The net proceeds from the financing, which was provided by LVC’s recently closed fund, LongueVue Capital Partners II, L.P, were used to expand Blue Dot’s equipment offering in order to support growing customer needs. This financing follows LVC’s 2010 equity investment in Blue Dot, which was made through a prior fund.
“Blue Dot has an outstanding reputation for providing strong customer service and high quality personnel and equipment to its blue chip customer base, which includes some of the nation’s largest drillers and producers of oil and gas,” said John McNamara, Co-founder and Managing Partner of LongueVue Capital. “We are pleased to continue our partnership with Blue Dot and to provide financing to support the company’s next phase of growth.”
“LongueVue Capital’s partnership and continued support is immensely valuable to Blue Dot during this period of growth,” said Blue Dot President and Chief Executive Officer, Andy Lang. “This financing enables us to strategically expand our equipment offering and services footprint in the Appalachian Basin and continue providing top-notch quality and service to our customers.”
About LongueVue Capital:
Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 18-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. Having managed over $500 million of capital spanning three funds coupled with 150 years of combined operating and investing experience, our team is the ideal partner for middle market companies at inflection points and seeking to maximize value.
Our opportunistic investment strategy provides the flexibility to partner with attractive businesses across a variety of industries and situations, and we tailor transaction structures to meet the company and stakeholders’ objectives. While we are selective with our investment strategy, we target growth-oriented companies with scalable, sustainable business models and exceptional leadership teams.
Our proactive, hands-on approach enables us to be thoughtful stewards of our portfolio companies and trusted and dependable strategic partners to all stakeholders. Together with our entrepreneur and management team partners, we help create superior value for our portfolio companies and investors.
To learn more about LongueVue Capital, please visit our website at www.lvcpartners.com.
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LVC is headquartered in New Orleans and maintains an office in Park City, UT to help us provide national coverage for transaction sourcing and portfolio company support.
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