CLEARLAKE CAPITAL ANNOUNCES FORMATION OF MISSION WEST, PROVIDER OF COMPLETE OILFIELD WATER MANAGEMENT SOLUTIONS
– Industry Veteran Steve Hardwick Named CEO
Houston, TX and Santa Monica – October 23, 2014 – Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and oilfield industry veteran Steve Hardwick today announced the formation of Mission WEST, Inc. (“Mission WEST” or the “Company”), which provides tailored, complete and longterm oilfield water management solutions to customers in North America.
Headquartered in Houston and led by CEO Hardwick, the Mission WEST team has extensive technical engineering, project management, oilfield operations and energy management experience, both at exploration and production companies as well as service companies. Hardwick, a seasoned oilfield executive, brings more than 30 years of industry experience and most recently served as President of Swire Water Systems.
As part of its blueprint to provide complete water solutions to E&P companies, Mission WEST’s services include planning, designing, building and staffing central water facilities that specialize in water remediation and reuse. The Company also offers services such as water transfer, storage and sourcing.
“We are very excited to partner with Clearlake given their deep energy expertise and long-term vision for Mission WEST,” said Hardwick. “Complete and responsible water solutions are key components in helping E&P companies unlock value in this rapidly growing industry. Right now, this niche is highly fragmented, with many players that provide just a fraction of what companies need over the life of their investments. Clearlake’s proven track record and substantial resources will be instrumental in growing Mission WEST as we deliver lasting value to oilfield customers throughout their water needs.”
“The need for long-term, holistic water solutions for E&P companies is clear, and we are pleased to partner with Steve and the rest of the Mission WEST team to offer responsible, best-in-class solutions within the oilfield water management space,” said José E. Feliciano, Founding Partner at Clearlake. “The Mission WEST team brings an impressive track record of exceeding expectations unique to the oilfield, and we are excited to sponsor the Company’s development as it deploys solutions throughout North America, and grows organically and through acquisitions.”
ABOUT CLEARLAKE CAPITAL GROUP
Clearlake Capital Group, L.P. is a private investment firm focused on special situations and private equity investments such as corporate divestitures, recapitalizations, buyouts, reorganizations, and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, longterm capital and operational expertise to invest in dynamic businesses. Clearlake currently manages approximately $1.4 billion of equity capital, and Clearlake’s founding principals have led over 70 investments totaling more than $3 billion of capital in sectors including business services, communication, consumer products/retail, defense/public safety, energy/power, healthcare, industrials, media, and technology. For more information, please visit www.clearlakecapital.com.
ABOUT MISSION WEST
Mission WEST is a complete oilfield water management, engineering and service company with a focus on designing and engineering water management solutions tailored to the specific needs of individual customers. Mission WEST employees are committed to developing responsible, high quality and best-inclass solutions, and to delivering those services to accomplish each project’s desired results in a safe and environmentally sustainable manner. All Mission WEST projects are underscored by a deep understanding of and lasting focus on the economics that make any project viable and successful. For more information, please visit www.missionwest.net.
MEDIA CONTACTS
Owen Blicksilver Public Relations, Inc.
Kristin Celauro, [email protected], (732) 433-5200
Jennifer Hurson, [email protected], (845) 507-0571
