NEWS AND INSIGHTS FROM FINTRX
In utilizing the FINTRX family office data and research platform, which provides intel into thousands of direct deal transactions made by over 3,150+ family offices worldwide, we explore five family offices investing across the oil and gas industry.
Founded in 2012, Sallyport Investments (Doug Foshee Family Office) is a Houston, TX-based single-family office managing the capital of oil magnate Doug Foshee. Foshee had a successful career in the oil and gas industry, having served as Chairman and CEO of El Paso Corporation - America’s largest interstate natural gas pipeline company, before its 2012 merger with Kinder Morgan - and is an active Houston-area philanthropist.
Sallyport Investments was founded with the mission to fund a variety of sectors of the energy industry, providing the firm’s portfolio with a permanent capital base, business operating expertise, and strategic guidance. The firm invests in both public and private equity across a range of sectors, regions, and asset classes. Sallyport Investments seeks to be a value-added partner to its portfolio companies, helping to build companies and identify areas of value creation over a long-term time horizon. Thanks to the industry expertise of its founder and principals, the group is uniquely positioned to fund opportunities in the upstream, midstream, and service sectors in the oil and gas industries.
Sallyport Investments has an interest in several other sectors as well, including private equity firms, including a firm funding real estate transactions, industrials, and supply chain/distribution. The firm seeks established companies, backed by strong cash flows and led by experienced management teams. Sallyport Investments is also active in philanthropic initiatives in the Houston area, in the areas of education, homelessness, and veterans, in addition to its investment activities. The firm will conduct all investment manager research, analysis, due diligence, and selection internally, and is open to a variety of strategies when investing. Geographically, Sallyport focuses primarily in North America for its investments.
In April 2019, Sallyport Investments acquired Epic Lift Systems, an oil and gas company based in Fort Worth, Texas. As one of North America's leading artificial lift providers, the group operates in every major oil and gas basin in the U.S. and Canada. With over 17 office locations, the company has a team of highly skilled professionals that deliver the results and support needed by its clients.
Again in April 2019, Sallyport Investments acquired ReStream Solutions, a data-driven oil and gas company based in Austin, Texas. By integrating proprietary software/hardware offerings, ReStream Solutions monitors fluid chemistry while automating the chemical application process to resolve potential problems associated with oilfield fluids. ReStream allows its customers to incorporate traditionally disparate and fragmented data into a single, comprehensive framework. ReStream Solutions is bringing the power of cloud computing, real-time chemical analysis and application, and SaaS efficiencies to the exploration and production industry.
Founded in 1968 by Cees de Bruin, Indofin Group (De Bruin Family Office) is a Rotterdam, Netherlands-based single-family office managing the wealth of the De Bruin Family. In addition to its headquarters in Rotterdam, the firm operates out of several satellite offices in France, Switzerland, the United States, Malaysia, and Curacao. Indofin is incredibly active in private equity and direct investments across the globe. Geographically, the firm looks to invest in companies operating across Europe, Australia, the United States, Canada, and Asia. Indofin allocates across a wide range of sectors and industries including energy, oil and gas, technology, shipping, manufacturing, shipbuilding, media, software, commodities, natural resources, real estate, and agriculture.
Indofin group takes part in a range of investment stages including acquisitions, buyouts, early-stage venture rounds, and later-stage growth rounds of funding. The deal sizes in which the group takes part varies drastically as well from $10M-$1B+. Indofin Group regularly co-invests alongside other investment groups and family offices. Past co-investment partners include AGIC Group, Nordian Capital Partners, and Tallinn Capital Partners. Historically, the group has taken part in multiple club deals with the same co-investing partners.
In June 2011, Indofin acquired J.M. Huber, one of the largest family-owned companies in the United States. Headquartered in Atlanta, Georgia, J.M. Huber operates as a Portfolio Management Company and serves as an organizational structure for a diverse range of businesses. CP Kelco, Huber Engineered Materials, Huber Engineered Woods, and Huber Resources Corp hold leadership positions in rapidly growing markets such as specialty chemicals and minerals, hydrocolloids, agriculture and engineered woods, as well as timber management. The multinational company creates products that are used in a broad range of consumer and industrial applications, including fire retardant additives and smoke suppressants, personal care, food, beverage, pharmaceuticals, and building materials.
In January 2015, Indofin acquired Brastec Technologies, a Brazilian-based equipment builder with a strong name for flexible pipe and cable manufacturing, handling, and storage systems. Brastec designs, builds, and supplies engineering solutions for the onshore and offshore oil, gas, telecom, and energy industries. The group specializes in the engineering and manufacture of onshore and offshore equipment. This includes delivering complete projects from development to delivery and meeting the standards of the competitive oil and gas market.
Founded in 2018, Mongo Holdings (Barry and Gail Bierenbaum Family Office) is an Atlanta, GA-based single-family office managing the wealth of Barry and Gail Bierenbaum, and their family. Barry Bierenbaum created his wealth over an extensive career primarily in oil and gas. After spending 16 years with Mobil in senior management, Barry founded Arch Energy, a wholesale marketer in St. Louis, MO. Arch Energy grew into Mobil's largest United States-based wholesaler. Barry created Mountain Express Oil Company out of Woodstock, GA. Mountain Express Oil Company was involved in several verticals including wholesale distribution of gasoline, renewable fuels, oils, lubricants, and more. Besides their investment activities, Mongo Holdings and the Bierenbaum family is heavily active in philanthropy, regularly giving to causes and institutions including Rider University. In 2018, Barry and his wife Gail established Mongo Holdings to serve as their private investment vehicle.
Today, Mongo Holdings takes an ethical example toward investing, with the end goal of giving back to the community via economic stimulation. The firm invests across a wide range of opportunities including real estate, private equity, venture capital, real assets, private debt, digital assets, and more. Mongo Holdings invests both directly and as a limited partner to select funds. When investing in private companies in both early and later stages, the firm considers a wide range of industries including technology, retail, aviation, oil, and gas - among others. While the firm has historically shown a propensity to invest domestically, it will consider opportunities globally.
In January 2000, Mongo Holdings acquired Mountain Express Oil, an Acworth, Georgia-based oil company that currently owns and/or controls over 200+ gas stations and provides fuel to over 600+ stations across the United States under several major oil and regional fuel brands. With a geographic footprint covering 19 states, MEX has well-established relationships with ExxonMobil, BP, Amoco, Shell, Chevron, Texaco, Sunoco, Valero, Gulf, Citgo, Diamond Shamrock, Marathon, Arco, Phillips 66, ConocoPhillips, and 76Motiva.
In July 2010, Mongo Holdings acquired Gulf Oil, a recognized brand in energy since 1901. Gulf Oil is headquartered in Wellesley Hills, MA with operations in 36 states, the District of Columbia, and Puerto Rico. Gulf Oil owns and operates one of the largest petroleum terminal systems in the Northeast, providing critical infrastructure solutions for the refined product's value chain, from when products exit the refinery until they reach the end-user.
Founded in 2011, Colton Capital Partners (O'Donnell Family Office) is a Houston, TX-based single-family office serving as the investment vehicle for the O'Donnell family. Colton Capital seeks investment in small and middle-market private businesses and invests across a diverse range of sectors and industries. Colton seeks direct equity investments and typically prefers to take controlling positions. Typical transaction types for the firm include management buyouts, growth capital, new business startups, and recapitalization transactions. They will also invest in minority equity investments and mezzanine debt opportunities on a case-by-case basis. Colton Capital's typical check size can range anywhere from $100K to $20M. When deals are above $20M, Colton will seek other private equity groups to co-invest with.
Colton Capital also has a passive portfolio, in which they invest in external deals and funds. Sectors and industries of interest include oil & gas, business services, manufacturing, energy, real estate, media, technology, automotive, pharmaceuticals, financial services, data, chemicals, investment management, infrastructure, and more. Colton Capital Partners also invests in real estate. Colton has made 29 investments in deals and funds led by external firms. For their passive portfolio, Colton's focus is on the oil & gas and real estate sectors.
In July 2014, Colton Capital Partners made a private equity investment in Conquest Completion Services, LLC, a leading coil tubing and completion service provider in the Permian Basin. The company's mission is to provide superior well-completion services to the oil and gas industry. As an early mover in the large diameter coiled tubing market, we strategically focus on providing an end-to-end, fully integrated, and engineered solution for servicing complex wellbores in unconventional plays in the Permian, Eagle Ford, and Midcon.
In May 2015, Colton Capital Partners acquired Forum Energy Technologies (FET), a global company, serving the crude oil, natural gas, and renewable energy industries. FET is headquartered in Houston, TX with manufacturing, distribution, and service facilities conveniently located to support the major energy-producing regions of the world. Forum’s products and services range from the underwater reservoir to the refinery, from the seafloor to the above-ground transportation line.
In January 2016, Colton Capital made a private equity investment in Live Oak Resource Partners, LLC, a privately-held Houston, Texas-based firm in the acquisition of oil and natural gas royalty and mineral interests and non-operated working interest. Live Oak actively invests in oil and natural gas properties across the United States, focusing on natural gas assets in Texas and Louisiana.
Established in 2001, Ferd Group Family Office (Andresen Family Office) is a Lysaker, Norway-based single-family office managing the assets of Johan H. Andresen and his daughters, Katharina and Alexandra. The family's wealth comes from Andresen’s great-great-grandfather, who bought a tobacco company called J. L. Tiedemanns in 1849 and subsequently shaped it into the family business for over 150+ years. In the 1990s, Andresen sold the tobacco business and converted it into an investment company. The firm invests in both public and private equity across a range of sectors, regions, and asset classes, and currently has a variety of asset classes in its growing portfolio.
Ferd takes a long-term ownership approach to its portfolio companies, with the aim to be a value-added investor and to leave a lasting mark - with significant and visible results from investments and partnerships. Ferd operates independently of outside mandates but internally works from three investment mandates: unlisted companies, listed companies, and special investments. These mandates provide Ferd with greater investment flexibility.
Ferd's investment criteria usually involve making direct investments in equity or debt instruments into companies that have completed their establishment phase, and a demonstrated business model. Ferd is willing and able to make reorganization investments, as well as provide growth capital. The group will typically write checks anywhere from USD$60M to $142M and will consider various industries and asset classes, with a particular geographic focus in Nordic countries and Northern Europe. Ferd's current portfolio includes both privately held and listed companies, financial instruments, Nordic stock markets, hedge funds, real estate, venture capital, consumer services, healthcare, e-commerce; media, mobile, retail, oil and gas, software, and social entrepreneurship activities. Ferd prefers to take an active stake in its investments.
In January 2010, Ferd Group invested in Interwell, an oil service company operating globally. Its goal is to ensure increased hydrocarbon recovery and barrier security for global upstream energy companies by focusing on research, development, operation, and testing of new/existing tools and technologies. The company is compiled of oil field experienced personnel.
In December 2012, Ferd Group made an undisclosed investment in Aibel, one of Norway’s leading service companies and a turnkey supplier of oil, gas, and renewable energy projects. Aibel's 4,000 skilled employees are located close to the company’s offices in Norway and South East Asia. Aibel has a strong market position based on the company's integrated business model, which covers the entire value chain. Customers are primarily major oil companies operating on the Norwegian continental shelf.
FINTRX provides comprehensive intelligence on thousands of private family offices, each designed to facilitate your prospecting and capital-raising efforts. Explore in-depth profiles on each family - AUM, source of wealth, investment criteria, previous investment history, industries of interest - and other key data points to help elevate your workflow. FINTRX offers an inside look at the alternative investment industry and private capital markets.
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March 21, 2022
Renae Hatcher is a member of the marketing team at FINTRX - focused on delivering targeted & relevant family office and registered investment advisor content to our subscribers.