Bold Production Services: Apollo Funds Acquire Majority Stake
Deal News | Feb 12, 2025 | Globenewswire
Apollo Funds, managed by Apollo Global Management, have acquired a majority interest in Bold Production Services, a Houston-based company specializing in natural gas treatment solutions. This acquisition is part of Apollo's broader strategy to invest in energy transition-related opportunities, capitalizing on the growing demand for natural gas due to industrial expansion and environmental considerations. Bold's CEO, Glen Wind, expressed enthusiasm for the partnership, emphasizing a commitment to efficient and environmentally friendly gas treatment solutions. Apollo's Scott Browning highlighted Bold's growth potential and strategic positioning. Legal and financial advisers for the transaction included Vinson & Elkins LLP, Piper Sandler & Co., and Troutman Pepper Locke LLP, with financing from Bank OZK.
Sectors
- Energy
- Private Equity
- Legal Services
- Financial Advisory
Geography
- United States – Both Bold Production Services and Apollo Global Management are based in the United States, specifically Houston and New York, signifying the geographic focus of the acquisition.
Industry
- Energy – Bold Production Services operates within the energy sector, providing natural gas treatment solutions, which are crucial for efficient and environmentally-friendly energy production.
- Private Equity – Apollo Global Management, a major private equity firm, facilitated the acquisition, showcasing its interest in energy transition investments.
- Legal Services – Legal advisory was provided by Vinson & Elkins LLP and Troutman Pepper Locke LLP, emphasizing the role of legal services in M&A transactions.
- Financial Advisory – Piper Sandler & Co. acted as financial advisor, highlighting the importance of financial advisory in structuring the deal.
Financials
- $58 billion – The amount committed, deployed, or arranged by Apollo in climate and energy transition-related investments over the past five years.
- $751 billion – The amount of assets under management by Apollo Global Management as of December 31, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bold Production Services, LLC | Target Company | Company | A provider of natural gas treatment solutions based in Houston, Texas. |
| Apollo Global Management, Inc. | Bidding Company/Buyer | Company | A global alternative asset manager acquiring a majority stake in Bold Production Services. |
| Vinson & Elkins LLP | Legal Advisor | Company | Provided legal advisory services to Apollo Funds during the acquisition. |
| Piper Sandler & Co. | Financial Advisor | Company | Served as financial advisor to Bold Production Services. |
| Troutman Pepper Locke, LLP | Legal Advisor | Company | Served as legal counsel to Bold Production Services. |
| Bank OZK | Creditor | Company | Provided a credit facility to support the transaction. |