PillarFour Capital Announces Sale of its Investment in NuWave Corp.
PillarFour Capital Partners (“PillarFour”), an energy-focused private equity fund, is pleased to announce that it has exited its investment in NuWave Corp. (“NuWave” or the “Company”) through a management buy out (“MBO”) led by its existing shareholders and management group.
Since 2010, NuWave has provided an innovative method for oil and gas well and pipeline abandonment through its patented hydro-cutting (water jet) system, which offers improvement over the traditional cut-and-cap process. Following PillarFour’s investment in 2017, NuWave has been able to grow its market share in Canada and expand its footprint into the U.S. market, while leveraging its technology to help its customers minimize environmental disturbance and realize significant cost reductions.
“We are thankful to have had the opportunity to partner with the team at NuWave” said Paul Colucci, Managing Partner at PillarFour. “The company is set up for continued growth and success as increased regulations focus on reclaiming aging infrastructure which will drive continued demand for NuWave’s technology and services.”
About PillarFour Capital
PillarFour Capital is a global investment fund with offices in Calgary, Canada and London, UK. PillarFour invests in Sustainable, Energy Technology and Innovation Companies, targeting investment in companies with high ROIC, low capital intensity and commercial technologies aimed at enhancing sustainability and lowering carbon intensity in the oilfield. The PillarFour investment team is made up of dedicated energy and technology professionals, offering our investee companies decades of operational, financial, strategic planning and capital markets expertise. We partner with high quality management teams, putting in place strategies that maximize value creation by emphasizing operational excellence, prudent governance and social licence. www.pillarfourcapital.com
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