Santa Monica private equity firm Sole Source Capital announced Feb. 16 it has purchased a majority interest in Premier Flow Control, an Odessa, Texas-based oil equipment supply company.
Premier Flow Control rents oil field equipment to oil producing companies in the West Texas Permian Basin, one of the nation’s largest oil regions. Sole Source Capital’s investment will be used to grow Premier Flow, David Fredston, managing partner at the private equity firm, said in a statement.
Financial terms of the deal were not disclosed.
Founded in 2016 by David Fredston, Sole Source Capital focuses on lower middle market companies in manufacturing, distribution, environmental, oil, metals and other industries.
Economy, education, energy and transportation reporter Howard Fine can be reached at firstname.lastname@example.org. Follow him on Twitter @howardafine.
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