Palladium Acquires Q'Max Solutions Inc., a Leading Global Oilfield Services Company
NEW YORK, June 2, 2014-- Palladium Equity Partners, LLC (along with its affiliates, "Palladium"), a private investment firm with over $2.5 billion in assets under management, today announced that it has acquired, through affiliates, Q'Max Solutions Inc. (and the Q'Max group of subsidiary entities), a leading global oilfield services company with operations in Latin America, North America and Asia. Terms of the transaction were not disclosed.
Founded in 1993, Q'Max is a large independent oilfield services company focused on providing drilling fluids and solids control services to national and independent oil companies. The company's highly skilled workforce of nearly 1,400 employees provides customized fluids and environmental solutions to challenges encountered in the drilling process. Its name "Q'Max" refers to "maximum flow from a wellbore" in engineering terms.
Chris Rivers, President and Chief Executive Officer of Q'Max Solutions, said, "I am excited that Q'Max has become a member of the Palladium family. Palladium recognizes our potential for significant profitable growth and thoroughly supports our vision, which will create new opportunities for our customers and employees."
"We are pleased to back Q'Max's team, which has positioned the company well in a large market with significant growth potential globally," said David Perez, President and COO of Palladium. "My partners and I look forward to working with Chris and his team to continue to grow the company and deliver best-in-class services to its clients."
About Palladium Equity Partners, LLC
Palladium is a middle market private equity firm with over $2.5 billion in assets under management. Palladium seeks to acquire and grow companies in partnership with founders and experienced management teams, and focuses primarily on buyout equity investments in the range of $50 to $150 million. Since its founding in 1997, Palladium has invested over $1 billion of capital in more than 20 platform investments and over 50 add-on acquisitions. The principals of the firm have significant experience in financial services, business services, food, healthcare, industrial and media businesses, with a special focus on companies it believes will benefit from the growth in the U.S. Hispanic population. In April 2014, Palladium announced the final closing of Palladium Equity Partners IV, L.P. at $1.14 billion, significantly exceeding its target. Palladium is based in New York City.
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