Tiger Capital joins Norwegian group, invests in Permian pumper
Through a $5 million capital infusion, Norwegian private equity firm Norse Partners and the founders of Commander oilfield services will grow again. Tiger Capital Group, based in Houston, is providing the Permian-focused pressure pumper with money to acquire additional assets.
The funds will be used to purchase equipment in high-pressure pumping operations, ranging from 2,600 hp pumps to acid transports to data trailers.
Andy Babcock, director of financial & capital solutions for Tiger Capital Group, said Commander is a company that supports industry advances “that have spurred demand for greater hydraulic horsepower and are positioning themselves to be a premium provider to operators and service companies.”
Babcock also said Tiger comes to Commander at a time when oilfield service providers don’t have great access to financing from mainline commercial banks. “Our expertise in oil and gas means that we can bring our capital resources to bear with the highest level of confidence,” he said.
Lasse Wagene, co-founder of Norse Partners, said Tiger understands the cyclical nature of oil and gas and understand the valuations of equipment in certain oil plays.
Tiger has invested in Aly Energy Services, Sandia Drilling Company and other industrial assets. The company also invests in consumer good product providers.
Commander Oilfield services provides mainly specialized services in the acid and coiled tubing sector along with custom pump downs. The company was formed in 2017.
Norse Partners was formed in 2016.