December 1, 2014 – Pelican Energy Partners, a private equity firm focused on the oilfield services and equipment sector, and Colton Capital Partners announced they have completed a majority recapitalization of Elite Multiphase Solutions (“EMS” or “Elite”), formerly known as HiVis Pumps.
EMS manufactures and sells high viscosity pumps for oil & gas production applications. Elite’s patented V-Pump™ is designed to replace conventional electrical submersible pumps (ESPs) as the preferred application by oil & gas operators. Conventional ESPs typically struggle in wells with heavy oil, high gas to oil ratios and high sand content resulting in poor lift, pump failure and well down time. Elite’s V-Pump™ has a wider operating range, is extremely solids tolerant and can be used through multiple production phases. EMS’ development partners have included Chevron, Statoil and ENI. The company plans to open a manufacturing facility in Stafford, TX in early 2015.
Mike Scott, Managing Partner and Founder of Pelican Energy Partners, said, “We are excited to partner with Elite’s experienced management team and see potential for the V-Pump’s multiphase pumping technology to be a true game-changer, completely revolutionizing the ESP space.”
Alastair Simpson, EMS’ Director of Engineering, commented, “As the principal engineer and developer of the V-Pump™, I’ve had the privilege of overseeing this unique technology from concept to design to commercial operations. I’m looking forward to working with Pelican and the EMS management team to propel the V-Pump™ to its full potential.”
About Pelican Energy Partners LP
Pelican Energy Partners is a Houston-based private equity fund specializing in strategic investments in small to middle-market, high growth potential energy service and equipment companies with sustained earnings outlooks. Pelican’s investments include Capline Environmental Services, Elite Production Services, Downhole Technology, Rapid Rod Service and Patriot Artificial Lift.