HOUSTON, TX – August 22, 2022 - Pelican Energy Partners (“Pelican”), a private equity fund focused on the energy service and equipment sector, is pleased to announce the sale of Pride Energy Services (“Pride”) by its portfolio company Vault Pressure Control (“Vault”) to Innovex Downhole Solutions, Inc. (“Innovex”). Headquartered in Midland, TX, Pride is the largest provider of cable spooling in the country, offering ESP cable preparation and spooling services, capillary tube spooling, cable management and work-over services, and ESP penetrator products to customers in the Permian, the Bakken, and Alaska.
Vault Pressure Control
Vault Pressure Control is a leader in wellhead product sales and service as well as rental of frac trees, valves, and zipper manifolds. The business is focused on providing outstanding customer service and world-class products to pressure control customers in the US, Canada, Australia, Papua New Guinea, and Trinidad & Tobago markets. Vault is the combination of several market leaders in the pressure control space including Vetco Grey, Wood Group, Performance Wellhead and Frac, and Slingshot Supply; delivering a legacy of over 100 years of experience and cutting edge technology.
Pelican Energy Partners
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. The firm has raised $563 million of committed capital and is investing out of its third fund.