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| Profile | Our
Mission | Recent Events
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| August 8, 2008 | Cadent Energy Partners II, L.P. invests in Probe Holdings, Inc. |
| July 24, 2008 | GT Solar International, Inc. Prices Initial Public Offering |
| July 3, 2008 | Cadent Energy Partners II, L.P. invests in WestFire Energy |
| April 28, 2008 | Cadent Energy Partners and Torqued-Up Energy Services Announce Completion of Cougar Pressure Control Acquisition |
| March 24, 2008 | Cadent Energy Partners II, L.P. Closes at $473.3 Million |
| February 29, 2008 | Cadent Energy Partners announces the recapitalization of Ardent Services |
| December 21, 2007 | Torqued-Up has been recapitalized through an equity investment from Cadent Energy Partners |
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| August 8, 2008 | Cadent Energy Partners II, L.P. invests in Probe Holdings, Inc. |
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Probe Technology Services, Inc, (“Probe”), a leading independent provider of cased and open hole logging tools and systems, announced today that it has secured an equity investment from Cadent Energy Partners II, L.P. (“Cadent”) to support its global growth initiative.
Probe designs, engineers and manufactures open hole and cased hole logging tools for e-line, slickline (memory) and coiled tubing conveyed, and supplies associated products and services. Probe’s patented and innovative products have successfully performed in wells all over the world.
“We are very pleased to welcome Cadent as partners in Probe. We believe the investment experience and energy expertise of Cadent will serve Probe well at this exciting time in the life of our company,” stated Probe’s President, Brian Hurst. “We expect our business to continue its rapid growth in the years to come.”
“Probe’s excellent customer service and product reputation were key factors in Cadent’s desire to invest in the company,” said David Coppé, a Partner with Cadent. “Probe’s position in the marketplace, innovative products, and strong industry acceptance make it a great platform investment for Cadent Energy Partners.” As part of the transaction, David Coppé and Paul McDermott will join Probe’s Board of Directors alongside Brian Hurst (President) and David Wesson (independent director).
Probe was exclusively represented by Western Strategic Advisors L.L.C. of Fort Worth.
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About Probe Technology Services, Inc.
www.probe1.com
Probe Technology Services, Inc. is a leading independent provider of cased and open hole logging tools to the oil and gas wireline service industry globally. Probe’s patented and proprietary cased hole tools are rapidly becoming the industry standard.
About Cadent Energy Partners
www.cadentenergy.com
Cadent Energy Partners is a private equity firm, with approximately $1 billion under management, targeting investments in small to medium-sized companies in the energy industry. Cadent provides expansion capital to firms that want to accelerate growth and build shareholder value in partnership with an experienced energy investor. Cadent is based in Rye Brook, NY. |
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| July 24, 2008 | GT Solar International, Inc. Prices Initial Public Offering |
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GT Solar International, Inc. (NASDAQ: SOLR) today announced that the initial public offering of 30.3 million shares of its common stock has been priced at $16.50 per share. All of the shares are being sold by one selling stockholder, GT Solar Holdings, LLC. The selling stockholder has also granted the underwriters an option to purchase up to an additional 4,545,000 shares of common stock to cover over-allotments, if any.
Credit Suisse Securities (USA) LLC and UBS Investment Bank acted as joint book-running managers for the offering, and Banc of America Securities LLC, Deutsche Bank Securities, Piper Jaffray and Thomas Weisel Partners LLC acted as co-managers.
A copy of the prospectus relating to the offering may be obtained by contacting: Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York, 10010-3629 (800-221-1037) or UBS Securities LLC, 299 Park Avenue, New York, New York, 10171, Attn: Prospectus Department (888-827-7275, ext. 3884).
A registration statement relating to the offering was filed with and declared effective on July 23, 2008 by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About GT Solar International, Inc.
GT Solar International, Inc. is a leading global provider of specialized manufacturing equipment and services essential for the production of photovoltaic wafers, cells and modules and polysilicon. The company’s principal products are directional solidification systems and chemical vapor deposition reactors and related equipment.
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| July 3, 2008 | Cadent Energy Partners II, L.P. invests in WestFire Energy |
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Cadent Energy Partners, LLC (“Cadent”) is pleased to announce an equity investment in WestFire Energy Ltd. (“WestFire”), a private Calgary-based oil and natural gas exploration and production company. WestFire is engaged in the acquisition of, exploitation of and exploration for oil and gas in West Central Saskatchewan and East Central Alberta.
WestFire has assembled an experienced management team and board of directors. The company is headed by President and CEO, Lowell Jackson, and Chairman, Ed Chwyl. Mr. Jackson previously led Real Resources, Ltd. which grew from 250 boe per day to over 11,000 boe per day before being purchased by TriStar Oil and Gas. Mr. Chwyl previously served as CEO of both Marathon Oil Canada Ltd. and Tarragon Oil and Gas Limited and is currently Chairman of Baytex Energy Ltd. David Coppe, a partner at Cadent, stated “We are excited to partner with WestFire. They have put together a quality management team and a first-class Board of Directors. They have the expertise and the relationships to take advantage of acquisition opportunities presented by the market and exploration and development opportunities arising from their high-quality properties.” Mike McGovern, Cadent Executive Advisor based in Houston, has joined the WestFire Board of Directors.
Cadent Energy Partners is a private equity firm, with approximately $1 billion under management, targeting investments in small to medium-sized companies in the energy industry. Cadent provides expansion capital to firms that want to accelerate growth and build shareholder value in partnership with an experienced energy investor. Cadent is based in Rye Brook, NY.
Additional information on Cadent is available at www.cadentenergy.com, and additional details on WestFire can be found at www.westfireenergy.com.
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| April 28, 2008 | Cadent Energy Partners and Torqued-Up Energy Services Announce Completion of Cougar Pressure Control Acquisition |
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Torqued-Up Energy Services (“Torqued-Up”) is pleased to announce the acquisition of Cougar Pressure Control (“CPC”). CPC is a leading integrated independent provider of high pressure coiled tubing, nitrogen, and fluid pumping services in Texas and Louisiana. CPC will accelerate Torqued-Up’s growth plans in the coiled tubing market. Matt Turner, one of the two Torqued-Up founders said, “We are excited about the opportunity to team up with CPC, creating a larger company with additional coiled tubing equipment to expand geographically into new markets.” Jay Albrecht and John Bendure from CPC will augment the corporate management team, as CEO and CFO, respectively.
Equity financing was led by Cadent Energy Partners (“Cadent”), who recapitalized Torqued-Up in December 2007. Additional equity was provided by the founders of Torqued-Up and Petro Capital Group, the primary equity holders in CPC. The debt syndication was led by PNC Business Credit.
Torqued-Up is a rental and service company supporting the production, completion, well control, snubbing, well stimulation and drilling markets in the oilfield. Products and services include coiled tubing, high pressure fluid pumping, flowback equipment, hydrostatic test pumps, hydraulic wrenches, hydraulic winches and 15K pressure control equipment. In addition, Torqued-Up also provides a variety of chemicals, including acid, glycol, methanol, friction reducers and gels. Torqued-Up was founded in 2004 and has multiple operating locations throughout Texas.
Cadent Energy Partners is a private equity firm, with approximately $1 billion under management, targeting investments in small to medium-sized companies in the energy industry. Cadent provides expansion capital to firms that want to accelerate growth and build shareholder value in partnership with an experienced energy investor. Cadent is based in Rye Brook, NY and focuses primarily on North American opportunities.
Petro Capital Group is an energy focused merchant banking firm based in Dallas, TX. Through its investment fund, Petro Capital/THL Energy Partners, LP, Petro Capital Group provides private capital to oilfield services companies as well as oil and gas companies. Petro Capital Group also provides energy focused investment banking services.
Parks Paton Hoepfl & Brown, a Houston based energy investment banking firm, advised Torqued-Up in the transaction.
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| March 24, 2008 | Cadent Energy Partners II, L.P. Closes at $473.3 Million |
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Cadent Energy Partners, LLC (“Cadent”) announced the final closing of its second private equity fund, Cadent Energy Partners II, L.P. (the “Fund”) with $473.3 million in commitments from its partners, which occurred on February 1, 2008. The Fund exceeded its initial target of $375 million due to strong support from existing investors coupled with new commitments from other leading institutional investors. Paul McDermott, Managing Partner, noted, “We are extremely gratified by the support we have received from our existing limited partners and are pleased to have the opportunity to establish long-term relationships with the new limited partners who have joined our investor group.” “We are excited to continue our strategy of investing in middle-market energy companies as the number of attractive opportunities in the market further validate our investment philosophy and competitive position,” added Bruce Rothstein, Managing Partner.
Lazard acted as placement agent for the Fund. “The tremendous success of this fundraising is a reflection of Cadent’s investment philosophy, strong track record of returns and the strength and quality of its team,” said Michael Sutka, Managing Director of the Private Fund Advisory Group at Lazard.
Established in 2003, Cadent makes control and influential minority investments in small to medium sized energy and related companies primarily based in North America. Cadent invests opportunistically across the energy industry in sub-sectors such as Exploration and Production, Oilfield Services and Equipment, Power Services and Equipment and Downstream Petroleum and typically makes equity commitments of $25 million to $50 million per transaction. Cadent is located in Rye Brook, New York.
For more information, please visit www.cadentenergy.com
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| February 29, 2008 | Cadent Energy Partners announces the recapitalization of Ardent Services |
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Cadent Energy Partners (“Cadent”) is pleased to announce the acquisition and recapitalization of Ardent Services, LLC by its affiliate to form Ardent Holdings, LLC (“Ardent”). Over the last five years Ardent, based in New Orleans, has grown to become one of the largest electrical and instrumentation (“E&I”) service providers for US hydrocarbon process control industries with operating licenses in 27 states and district operations in Texas, Louisiana, California, Colorado, Alabama and the offshore Gulf of Mexico. Ardent plans to expand geographically and serve new and existing markets. “We are excited about the opportunities for expansion throughout North America and are eager to continue our growth through this partnership with Cadent,” said Bryan Landry, CEO and one of the founders of Ardent.
Ardent is a leading provider of E&I services to hydrocarbon processing plants, offshore oil and gas production platforms, offshore drilling rigs, midstream natural gas infrastructure and industrial process plants. These industries require sophisticated E&I systems and services to measure and control pressure, temperature and product flow. Ardent’s customer base is comprised of leading refiners, midstream companies, independent oil and gas companies and a diversified mix of other industrial customers and primary contractors.
Simmons & Company International, a leading investment bank for the energy industry, advised Ardent in the transaction. Wachovia Bank provided debt financing.
Cadent Energy Partners is a private equity firm, with approximately $1 billion under management, targeting investments in small to medium-sized companies in the energy industry. Cadent provides expansion capital to firms that want to accelerate growth and build shareholder value in partnership with an experienced energy investor. Cadent is based in Rye Brook, NY, and focuses primarily on North American opportunities.
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| December 21, 2007 | Torqued-Up has been recapitalized through an equity investment from Cadent Energy Partners |
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Torqued-Up Oilfield Production Services, LP, is pleased to announce that it has recapitalized its business through an equity investment from an experienced energy investor, Cadent Energy Partners (“Cadent”), to form Torqued-Up Holdings, Inc. (“Torqued-Up”). Building on its successful track record of growth in completion related pressure testing and pumping services, Torqued-Up has recently entered the coiled tubing services business. With Cadent’s involvement, Torqued-Up plans to expand its equipment base and geographic footprint in order to continue its growth and better serve the industry. Bob Koricanek, one of the two original founders said, “We are fortunate to have a strong equity partner like Cadent helping fuel our growth. Cadent has a great track record in the service sector and their investment will accelerate our entry into the coiled-tubing business.” Parks Paton Hoepfl & Brown, a Houston based energy investment banking firm, advised Torqued-Up in the transaction. PNC Business Credit provided debt financing.
Torqued-Up is a rental and service company supporting the production, completion, well control, snubbing, well stimulation, and drilling markets of the oilfield. Products and services include coiled tubing, high pressure fluid pumping, flowback equipment, hydrostatic test pumps, hydraulic wrenches, hydraulic winches, and 15K pressure control equipment. In addition, Torqued-Up also provides a variety of chemicals, including acid, glycol, methanol, friction reducers and gels. Torqued-Up was founded in 2004 and has multiple operating locations throughout Texas.
Cadent Energy Partners is a private equity firm, with approximately $1 billion under management, targeting investments in small to medium-sized companies in the energy industry. Cadent provides expansion capital to firms that want to accelerate growth and build shareholder value in partnership with an experienced energy investor. Cadent is based in Rye Brook, NY, and focuses primarily on North American opportunities. |
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