January 17, 2017 05:00 ET
CALGARY, ALBERTA--(Marketwired - Jan. 17, 2017) - Ideal Completions Group LLC ("Ideal" or the "Company") is pleased to announce the closing on January 16, 2017 of the previously announced acquisition of Cathedral Energy Services' ("Cathedral") flowback and production testing assets in Canada and the United States. The $17.8 million acquisition was fully funded by management and ENR Partners LP, which is an affiliate of Edge Natural Resources LLC ("Edge"), a Dallas-based private equity firm focused on small-cap investments in the North American energy industry. Ideal has access to additional capital to expand its flowback business through acquisition and/or the build-out of new equipment.
Ideal's management team has extensive experience in the flowback and production testing business through their prior management experience with Pure Energy Services and Cathedral Energy Services. The management team includes Brad Gabel (Executive Chairman), Rutger Niers (President), Richard Defreitas (Vice-President) and Scott Marshall (Vice-President, Operations). With the Cathedral asset base and Ideal's considerable management and operational experience, Ideal is strategically positioned to expand and grow its business to become an industry leader of flowback and production testing services in North America with a strong emphasis on safety and customer relations.
The management team of Ideal would like to welcome all of the former Cathedral employees who are continuing on with Ideal and we look forward to servicing our customers with the highest level of safety and excellence.
Ideal is a private oilfield services company operating in western Canada and the United States. The initial operations of Ideal consisted of the acquisition of the flowback and production testing assets from Cathedral which closed on January 16, 2017.
Ideal Completions Group LLCBrad GabelExecutive Chairman(403) 267-0099Ideal Completions Group LLCRutger NiersPresident(403) 267-0099
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