Case Studies
Welltec Case Study
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Riverside starts with a superior product, then builds a superior firm
The experienced management team at Welltec, a producer of specialized conveyance systems for extracting hard-to-reach oil and gas, chose to partner with Riverside for its ability to provide both capital and expertise to capitalize on a robust energy industry.
Welltec continues to thrive, with customers among the world’s largest energy companies as well as smaller independents, and a strong presence in the booming oil-sands region.
Riverside provided:
- Strengthening of financial and operating controls
- Crucial R&D investments
- Two knowledgeable industry executives to enhance the board of directors
- Expansion of Welltec’s product offerings with the strategic add-on acquisition of Heat Seekers, a Canadian provider of oil tractors and specialized logging services.
- Growth of Welltec’s geographic footprint to 25 locations over six continents
Gross IRR: 182%
Gross cash-on-cash: 9.9x
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