Apollo Funds Acquire Bold Production Services, a Leading Provider of Production-Linked Contracted Gas Treatment Solutions
Apollo (NYSE:APO) has announced that its managed funds have acquired a majority stake in Bold Production Services, a provider of production-linked natural gas treatment solutions. Bold operates a fleet of 700+ assets, including dehydration units, H2S treating units, and total flow coolers, serving customers in the Permian and Eagle Ford basins.
The investment aims to support Bold's growth as natural gas demand is expected to increase over the next decade, driven by power generation, LNG exports, and data centers. Bold will maintain its Houston headquarters with its current leadership team, including CEO Glen Wind. Apollo brings expertise in the natural gas value chain and has committed approximately $58 billion to climate and energy transition-related investments over the past five years.
Apollo (NYSE:APO) ha annunciato che i fondi gestiti hanno acquisito una partecipazione di maggioranza in Bold Production Services, un fornitore di soluzioni per il trattamento del gas naturale legate alla produzione. Bold gestisce una flotta di oltre 700 asset, tra cui unità di disidratazione, unità di trattamento H2S e raffreddatori di flusso totale, servendo clienti nei bacini del Permian e dell'Eagle Ford.
L'investimento mira a supportare la crescita di Bold, poiché si prevede che la domanda di gas naturale aumenterà nel prossimo decennio, sostenuta dalla generazione di energia, dalle esportazioni di GNL e dai centri dati. Bold manterrà la sua sede centrale a Houston con il suo attuale team di leadership, incluso il CEO Glen Wind. Apollo porta competenze nella catena del valore del gas naturale e ha impegnato circa 58 miliardi di dollari in investimenti legati al clima e alla transizione energetica negli ultimi cinque anni.
Apollo (NYSE:APO) ha anunciado que sus fondos gestionados han adquirido una participación mayoritaria en Bold Production Services, un proveedor de soluciones de tratamiento de gas natural vinculadas a la producción. Bold opera una flota de más de 700 activos, incluidos unidades de deshidratación, unidades de tratamiento de H2S y enfriadores de flujo total, atendiendo a clientes en las cuencas de Permian y Eagle Ford.
La inversión tiene como objetivo apoyar el crecimiento de Bold, ya que se espera que la demanda de gas natural aumente en la próxima década, impulsada por la generación de energía, las exportaciones de GNL y los centros de datos. Bold mantendrá su sede en Houston con su actual equipo de liderazgo, incluido el CEO Glen Wind. Apollo aporta experiencia en la cadena de valor del gas natural y ha comprometido aproximadamente 58 mil millones de dólares en inversiones relacionadas con el clima y la transición energética en los últimos cinco años.
아폴로 (NYSE:APO)는 관리하는 펀드가 볼드 프로덕션 서비스의 대다수 지분을 인수했다고 발표했습니다. 볼드는 생산 연계 천연 가스 처리 솔루션을 제공하는 업체로, 700개 이상의 자산을 보유하고 있으며, 여기에는 탈수 장치, H2S 처리 장치 및 전체 흐름 냉각기가 포함되어 있습니다. 볼드는 퍼미안 및 이글 포드 분지의 고객에게 서비스를 제공합니다.
이번 투자의 목적은 볼드의 성장을 지원하는 것으로, 향후 10년 동안 전력 생산, LNG 수출 및 데이터 센터에 의해 천연 가스 수요가 증가할 것으로 예상됩니다. 볼드는 현재 CEO 글렌 윈드를 포함한 리더십 팀과 함께 휴스턴 본사를 유지할 것입니다. 아폴로는 천연 가스 가치 사슬에 대한 전문성을 제공하며, 지난 5년 동안 기후 및 에너지 전환 관련 투자에 약 580억 달러를 약속했습니다.
Apollo (NYSE:APO) a annoncé que ses fonds gérés ont acquis une participation majoritaire dans Bold Production Services, un fournisseur de solutions de traitement du gaz naturel liées à la production. Bold exploite une flotte de plus de 700 actifs, y compris des unités de déshydratation, des unités de traitement H2S et des refroidisseurs de flux total, servant des clients dans les bassins de Permian et d'Eagle Ford.
L'investissement vise à soutenir la croissance de Bold, car la demande de gaz naturel devrait augmenter au cours de la prochaine décennie, stimulée par la production d'électricité, les exportations de GNL et les centres de données. Bold maintiendra son siège à Houston avec son équipe de direction actuelle, y compris le PDG Glen Wind. Apollo apporte son expertise dans la chaîne de valeur du gaz naturel et a engagé environ 58 milliards de dollars dans des investissements liés au climat et à la transition énergétique au cours des cinq dernières années.
Apollo (NYSE:APO) hat angekündigt, dass seine verwalteten Fonds eine Mehrheitsbeteiligung an Bold Production Services erworben haben, einem Anbieter von produktionsbezogenen Lösungen zur Behandlung von Erdgas. Bold betreibt eine Flotte von über 700 Assets, darunter Dehydrierungseinheiten, H2S-Behandlungsanlagen und Gesamtdurchflusskühler, und bedient Kunden in den Becken von Permian und Eagle Ford.
Die Investition zielt darauf ab, das Wachstum von Bold zu unterstützen, da die Nachfrage nach Erdgas in den nächsten zehn Jahren voraussichtlich steigen wird, angetrieben durch die Stromerzeugung, LNG-Exporte und Rechenzentren. Bold wird seinen Hauptsitz in Houston mit dem aktuellen Führungsteam, einschließlich CEO Glen Wind, beibehalten. Apollo bringt Fachwissen in der Erdgas-Wertschöpfungskette ein und hat in den letzten fünf Jahren etwa 58 Milliarden Dollar in klima- und energiewendebezogene Investitionen verpflichtet.
- Acquisition of 700+ revenue-generating assets in key U.S. basins
- Strategic positioning in growing natural gas treatment market
- Established blue-chip customer base in Permian and Eagle Ford
- Backed by Apollo's $58 billion commitment to energy transition investments
- Acquisition cost not disclosed
- New credit facility could increase debt burden
Insights
This strategic acquisition significantly enhances Apollo's position in the natural gas infrastructure sector, particularly noteworthy given the projected surge in U.S. natural gas demand over the next decade. Bold's business model presents three key advantages that make this acquisition particularly valuable:
First, the company's contracted revenue model provides stable, predictable cash flows - a important factor for private equity returns. Bold's established relationships with blue-chip customers in the Permian and Eagle Ford basins create high barriers to entry and strong customer retention.
Second, Bold's proprietary equipment design for gas treatment solutions addresses two critical market needs: operational efficiency and emissions reduction. This dual capability positions the company favorably amid increasing regulatory pressure and industry focus on environmental performance. The fleet of 700+ specialized assets represents significant replacement value and provides immediate scale in key production regions.
Third, the timing aligns perfectly with the U.S. industrial renaissance, driven by three major growth catalysts:
- Expanding LNG export capacity requiring additional gas treatment infrastructure
- Rising power generation demands from data centers and industrial facilities
- Increasing focus on emissions reduction in natural gas operations
This acquisition fits strategically within Apollo's broader energy transition portfolio, complementing their
The retention of Bold's management team, led by CEO Glen Wind, ensures operational continuity and deep industry expertise - important for executing the growth strategy in specialized gas treatment services. This management continuity, combined with Apollo's extensive experience in energy infrastructure investments, positions Bold for accelerated expansion in a sector with strong secular tailwinds.
Transaction to Further Accelerate Bold’s Growth Amid Increasing Demand for U.S. Natural Gas and Required Treatment Solutions
HOUSTON and NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE:APO), today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have acquired a majority interest in Bold Production Services, LLC (“Bold” or the “Company”), a provider of production-linked, contracted natural gas treatment solutions that enable the downstream use of natural gas, while reducing excess emissions and waste through proprietary equipment design.
Founded in 2013, Bold’s fleet of 700+ owned assets, including dehydration units, H2S treating units and total flow coolers, serves a blue-chip customer base across the Permian and Eagle Ford basins. The investment from the Apollo Funds will support Bold’s continued growth as natural gas demand is expected to accelerate over the next decade, driven by secular trends associated with the industrial renaissance such as demand for power generation, LNG exports, data centers and other emerging natural gas applications. The Company will continue to be headquartered in Houston, Texas and led by Glen Wind, Chief Executive Officer, along with his team including Blake Maywald, President, Tim Burkett, Chief Financial Officer and Austin Traweek, Chief Operating Officer.
Glen Wind, CEO of Bold, commented, “We are excited to work with Apollo in our efforts to continue serving our customers seeking reliable gas treatment solutions that help improve operational efficiency. Producers value high performance, scalable treatment services, and Bold remains committed to delivering best-in-class solutions that drive safer, cleaner operations with improved production yields and lower emissions. We look forward to building on our momentum alongside Apollo in the years ahead. We would like to acknowledge and thank the OFS Energy Fund team for their involvement and support in helping us reach this point.”
Scott Browning, Partner at Apollo, said, “Bold has built a robust platform providing essential gas treatment solutions, with significant growth potential supported by strong customer relationships and attractive expansion opportunities. We are excited to partner with Glen, Blake and the rest of the Bold team in a market where we see the opportunity for significant investment given favorable secular tailwinds. Apollo brings deep expertise in the natural gas value chain and a proven track record supporting the growth of energy-related services that help to fuel the industrial renaissance.”
Over the past five years, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately
Vinson & Elkins LLP served as legal counsel to the Apollo Funds. Piper Sandler & Co. acted as financial advisor to Bold, and Troutman Pepper Locke, LLP served as Bold’s legal counsel. Bank OZK supported the transaction through a new credit facility.
About Bold Production Services, LLC
Bold Production Services, LLC is an oil & gas infrastructure resource company providing contract services in the treating and removal of impurities found in natural gas, oil, and water. Bold has grown its asset base to include production and treating equipment, as well as a non-triazine based H2S chemical scavenger. To learn more, please visit www.bps-llc.com.
About Apollo Global Management, Inc.
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately
Contact Information
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com
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i As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the "CTIF"), are (1)
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