Bold Production: Apollo Funds Acquire Leading Natural Gas Treatment Company
Deal News | Feb 12, 2025 | Apollo
Apollo, a global alternative asset manager, has acquired a majority interest in Bold Production Services, LLC, a leading provider of production-linked contracted natural gas treatment solutions in the United States. Bold, founded in 2013, operates with over 700 assets including dehydration units and H2S treating units, primarily in the Permian and Eagle Ford basins. This acquisition aligns with Apollo's strategy to capitalize on the increasing demand for natural gas driven by trends like LNG exports and power generation. Apollo believes that its investment will enable Bold to expand and enhance its gas treatment capabilities, offering high-performance, scalable solutions. Bold's executive leadership, led by CEO Glen Wind, will continue to drive the company's growth under Apollo's stewardship. With this acquisition, Apollo aims to leverage its expertise in the natural gas value chain to support Bold's ambitions. Advisor roles in this transaction were fulfilled by Vinson & Elkins LLP for Apollo and Piper Sandler & Co. for Bold.
Sectors
- Energy
- Private Equity
- Infrastructure
Geography
- United States – Both Apollo and Bold Production Services operate within the United States, specifically in the area of natural gas production and treatment solutions.
Industry
- Energy – The article discusses the acquisition of Bold Production Services, specializing in natural gas treatment solutions, a significant activity within the energy industry.
- Private Equity – The article involves Apollo, a private equity firm, acquiring a majority stake in another company, which is a typical private equity transaction.
- Infrastructure – Bold Production Services operates within the oil & gas infrastructure sector, providing necessary supportive services for the natural gas industry.
Financials
- $58 billion – Amount Apollo-managed funds and affiliates have committed, deployed, or arranged into climate and energy transition-related investments over the past five years.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bold Production Services, LLC | Target Company | Company | A provider of production-linked, contracted natural gas treatment solutions based in Houston, Texas. |
| Apollo Global Management, Inc. | Bidding Company | Company | A global alternative asset manager acquiring a majority stake in Bold Production Services. |
| OFS Energy Fund | Selling Company | Company | The funding entity supporting Bold prior to the Apollo acquisition. |
| Vinson & Elkins LLP | Legal Advisor | Company | Served as legal counsel to the Apollo Funds during the acquisition process. |
| Piper Sandler & Co. | Financial Advisor | Company | Acted as financial advisor to Bold Production Services. |
| Troutman Pepper Locke, LLP | Legal Advisor | Company | Provided legal counsel to Bold Production Services. |
| Bank OZK | Financial Institution | Company | Supported the transaction through a new credit facility. |