Apollo Global Management LLC (NYSE: APO) and participating management have agreed to acquire Express Energy Services, the North American oilfield services company said Oct. 24. Terms of the transaction were not disclosed.
Express, founded in 2000, is a premier provider of products and services to the petroleum and energy industries. The company will continue to be headquartered in Houston.
Offering oilfield services in every major hydrocarbon basin in the U.S., Express assists its customers with six service lines, including casing and tubular running and completion and production services, and a workforce of roughly 1,700 employees in more than 30 locations.
"We look forward to our new partnership with Express Energy Services and its outstanding management team and employees. We have been extremely impressed with the company's culture of excellence, track record of operational success and strong commitment to training, safety and service quality," said Michael Jupiter, partner, Apollo Global Management, in a statement. "We believe we are well positioned to help Express achieve its long-term growth strategies for its existing and future service line offerings."
Apollo has offices in New York, Los Angeles, Houston, Toronto, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. As of June 30, the firm had about $168 billion worth of assets under management.
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