HOUSTON, Texas— November 3, 2022 – Voyager Interests (“Voyager”), a private equity firm specializing in the energy services and equipment sector, today announced its acquisition of Knight Energy Services (“Knight” or the “Company”) from Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”). Knight, headquartered in Houston, Texas, is one of the largest rental tool companies serving the U.S. oil and gas industry. The Company provides a complete range of rental products for drilling, completion, production and decommissioning applications, including drill pipe, tubing, tubular handling equipment, pressure control equipment and drilling jars. Financial terms of the transaction were not disclosed.
“I am thrilled to partner with Voyager to continue building Knight into the preeminent rental tool company in North America. We have the people, the fleet, the footprint and the capabilities to do just that. In partnering with Voyager, we will continue to build Knight organically and through acquisitions and my team could not be more excited,” said Dwight Gross, Chief Executive Officer and President of Knight. “We thank Clearlake for their partnership and support as we conclude this chapter and look forward to our next phase of growth.”
“Knight has been a recognized industry name for more than 50 years, and I have admired the Company and its reputation my entire career. We look forward to contributing however we can to Knight’s growth and success,” stated David Watson, Managing Partner of Voyager.
“We have greatly enjoyed working with Dwight and the entire Knight Energy management team, and would like to thank all of the Company’s employees, customers, and stakeholders for their partnership over the past years. We wish the Company continued success as they embark on this next chapter,” said José E. Feliciano, Co-Founder and Managing Partner of Clearlake.
Headquartered in Houston, Texas and with 17 locations across the U.S., Knight specializes in serving the upstream oil and gas industry by providing a complete range of rental products for drilling, completion, production and decommissioning applications, including drill pipe, tubing, tubular handling equipment, pressure control equipment and drilling jars. Learn more online at www.ke.services.
Voyager Interests, based in Houston, Texas, is a specialized private equity firm that is committed to investment in middle market energy services and equipment companies. With three platform oilfield service investments (four including add-ons) acquired in the past 15 months, we believe Voyager is the most active private equity firm in the sector today. The firm is actively seeking new platform investments with enterprise values up to $100 million, and also plans to invest in add-on acquisitions for existing portfolio companies. Voyager’s limited partner base is comprised primarily of Texas family offices and experienced energy entrepreneurs, which provide significant flexibility in the firm’s investments. Learn more online at www.voyagerinterests.com.
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland.