Crestview Partners and B-29 Investments LP have formed Endurance Lift Solutions LLC, which will be dedicated to opportunities in the artificial lift industry. Its focus will be to build an artificial lift platform offering comprehensive production enhancement services across the life of oil and gas wells.
Under the terms of the relationship, Crestview Partners III LP and its affiliated funds, along with funds affiliated with B-29, will invest up to $200 million in the equity of Endurance.
Endurance will seek to partner with growing companies in the artificial lift industry and to strategically deploy capital to help these companies drive the next stage of their growth. Endurance has already identified a number of attractive candidates and expects to announce its first artificial lift acquisition in the coming weeks.