Intervale invested in Casedhole Solutions (“Casedhole”) in June 2008. At the time, Casedhole was a wireline services company with a focus on HPHT wells, running 14 trucks in three gas basins with approximately $30 million in revenue. Intervale structured the transaction as a buyout of the founders, who reinvested alongside Intervale to own a minority portion of the business.
What We Did
Casedhole was transformed from a strong regional player to a leading national, independent wireline company under Intervale’s ownership. In addition to refining the company’s market strategy and expanding its finance function, Intervale recruited a team of veteran wireline managers to the company, who oversaw the addition of ten new districts and 44 new wireline trucks. As a result, Casedhole’s revenues grew from approximately $30 million to $175 million during the course of Intervale’s investment, significantly outpacing rig-count growth in the United States.
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Intervale sold Casedhole to C&J Energy in June 2012. At the time of the sale, Casedhole was the only independent wireline provider in the United States with a presence in each of the major basins. Despite its rapid growth, Casedhole retained its reputation for premium, consistent service.
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