Edmonton, AB (December 11, 2020) – Tier 1 Energy Solutions, Inc. (“Tier 1”) announced today that it has acquired Definitive Optimization, Ltd. (collectively, “Definitive”). Founded in 2009, Definitive designs, manufactures, and installs artificial lift systems. Definitive is headquartered in Brooks, AB, and has operations across Western Canada.
Tier 1 is a leading provider of completion and production products,services and technologies for the oil and gas industry. The company designs,manufactures, and installs a range of high-value well completion and artificial lift solutions for onshore operators across North America.
The acquisition of Definitive and Tier 1’s purchase of the patents and intellectual property of Premier Integrated Technologies, Ltd.(“PIT”), builds upon Tier 1’s existing presence in the artificial lift space by expanding its expertise and product offering. The transactions mark a step in a series of initiatives Tier 1 has undertaken to transform from a pure-play wireline services operator into a leading provider of technology enabled products and services spanning the life cycle of an oil & gas well.
Kevin O’Dwyer, Tier 1’s Chief Executive Officer, will oversee the combined business. O’Dwyer has more than 35 years of experience in the energy services industry. O’Dwyer commented, “We are excited to complete the acquisition of Definitive and welcome all of the company’s employees to the Tier 1 team. Definitive’s reputation for high-quality products and a strong commitment to customer service aligns very well with Tier 1’s technology portfolio and customer-first approach to business. We look forward to providing our clients a broader suite of products to meet their completions and production technology needs.”
Diane Declercq, a member of Definitive’s Board of Directors commented, “Tier 1 has been an excellent partner to Definitive and our organization is excited to join the team. Tier 1’s commitment to technology and its established well completion and artificial lift platform makes the company a natural home for Definitive. We are excited to expand our presence as an industry leader through this acquisition.”
About Tier 1 Energy Solutions:
Tier 1 Energy Solutions, Inc. provides a range of technology enabled well completion and artificial lift products for onshore operators across Western Canada. In addition, the company is a leading provider of wireline and completions support services in Western Canada and select markets in the US. The company is headquartered in Edmonton, Alberta and has service centers located in all major Western Canadian oil and gas basins, the Permian Basin in West Texas and New Mexico, the Mid-Continent Basins across Oklahoma, and the Bakken in North Dakota.
About Definitive Optimization:
Founded in 2009, Definitive is a leading provider of artificial lift products. Definitive offers a full line of plunger lift and gas lift products as well as associated machining and field services. Headquartered in Brooks, AB, Definitive hasservice centers across the Western Canadian Sedimentary Basin.
Contact for Tier 1:
Chief Executive Officer
Amberjack Capital (formerly known as Intervale Capital) is a specialized private equity firm that invests in and partners with entrepreneurs and business owners to build market leaders serving the industrial, infrastructure, and environmental end markets. Headquartered in Houston, the firm has raised $1.3 billion of committed capital since its inception in 2006 and has invested in over 50 companies.