Covenant Testing Technologies Combines with Stuart Pressure Control

Kingswood Capital Management Acquires Covenant Testing Technologies

October 24, 2023

Oil & Gas

Kingswood Capital Management, LP acquired Covenant Testing Technologies, a Houston-headquartered provider of flowback, production and sand management, and pressure control equipment rentals and associated services. Kingswood partnered with industry veterans James Stewart (to serve as CEO and Chairman) and Doug Scott (board member) to support expansion of Covenant's service offering and customer base across major U.S. shale basins.

Pelican Energy Partners Acquires Baker Hughes' Surface Pressure Control Flow Business (Vault Pressure Control)

September 10, 2020

Energy

Pelican Energy Partners agreed to purchase the Surface Pressure Control Flow (SPC Flow) business unit from Baker Hughes in a carve-out transaction, closing on October 31, 2020. The standalone company, renamed Vault Pressure Control, will focus on wellhead pressure control products, rental frac/flowback equipment and related services across the US, Canada, Australia, Papua New Guinea and Trinidad & Tobago.

Stratim Cloud Acquisition Corp. Signs LOI to Acquire Force Pressure Control, LLC

February 14, 2023

Energy

Stratim Cloud Acquisition Corp. (a Nasdaq-listed SPAC) signed a binding letter of intent to acquire 100% of Force Pressure Control, LLC, a Texas-based provider of pressure-control rental tools and services for frac and flowback operations. The proposed consideration includes 12 million SCAC Class A shares, $120 million in cash or notes, and an earnout of up to 3 million additional shares contingent on 2023 EBITDA; the deal is intended to close following definitive agreement and approvals.

United Flow Technologies Acquires Quality Controls, Moss-Kelley and GP Jager

April 4, 2025

Industrial Services

United Flow Technologies (a portfolio company of H.I.G. Capital) has acquired Quality Controls, Inc. from its owners and announced the strategic add-on acquisitions of Moss-Kelley and GP Jager to expand UFT's regional density and capabilities across the Eastern U.S. PKF Investment Banking served as exclusive financial advisor to Quality Controls. The acquisitions bolster UFT's footprint in the municipal and industrial water and wastewater markets and add distribution and manufacturers' representative capabilities.

EnerCorp Engineered Solutions Combines with Pro Oil & Gas Services

July 13, 2020

Oil & Gas

EnerCorp Engineered Solutions has combined with Pro Oil & Gas Services to create an expanded well flow and sand management platform. Both businesses are backed by Intervale Capital; the deal brings Pro’s early-stage flowback, pressure control and drilling services into EnerCorp’s sand management and late-stage flowback offering to broaden capabilities across North American basins.

Tanknology (HRCP Portfolio) Acquires Compliance Testing & Technology (CT&T)

April 30, 2020

Environmental Services

Tanknology, a portfolio company of Hamilton Robinson Capital Partners, acquired Compliance Testing & Technology, Inc. (CT&T), a Cedarburg, Wisconsin-based provider of underground and aboveground storage tank testing, inspection and related environmental compliance services. The add-on deal (closed April 30, 2020) expands Tanknology’s geographic footprint, technical capabilities and customer base to accelerate growth under HRCP ownership.