BV Investment Partners, a middle-market private equity firm focused on the information and business services and communications sectors, has made an investment in geoLOGIC systems ltd. by acquiring the shares of company founders Joe and Denise Harris. The transaction was completed in partnership with the geoLOGIC's president and CEO, David Hood, who will retain his entire ownership interest in the company.
Founded in 1983 and headquartered in Calgary, AB, geoLOGIC creates and supplies data and integrated software solutions to oil and gas exploration and production companies and related industries in North America. The company provides software and data products that are embedded in client company workflows and support decision making at client organizations.
geoLOGIC's customers include oil and gas exploration and production companies, pipeline and midstream companies, service companies (engineering, consulting, reserves auditing, financing, stock and asset brokerages, drilling, oilfield servicing), government and regulatory organizations, and educational institutions. Its key products are geoSCOUT, a decision-support tool, providing data for all disciplines within the oil and gas industry, and gDC, geoLOGIC's upstream oil and gas database.
Ropes and Gray served as legal counsel, and MHT Midspan acted as financial advisor to BV in the transaction.