Quorum Software Acquires Coastal Flow Measurement, Flow-Cal.
M2 EQUITYBITES-February 27, 2019-Quorum Software Acquires Coastal Flow Measurement, Flow-Cal
(C)2019 M2 COMMUNICATIONS http://www.m2.com
27 February 2019 - US-based oil and gas industry digital transformation specialist Quorum Software (Quorum), a Thoma Bravo portfolio company, has entered into a definitive agreement to acquire Houston-based Coastal Flow Measurement, Inc. (Coastal Flow), a family of energy measurement services and software companies, the company said.
Coastal Flow has aninformation services and technologies subsidiary, Flow-Cal, Inc. (Flow-Cal).
The acquisition expands and strengthens Quorum's oil and gas software and services portfolio with the long-time leader in measurement data management for natural gas and petroleum liquids.
Coastal Flow's family of companies provides gas and liquids measurement, analytical services and software resources to the energy industry on a global scale.
Collectively, Coastal Flow serves oil and gas companies in all segments of the industry including producers, midstream operators, pipeline companies, petrochemical plants, gatherers, refineries, processing plants and utilities.
A subsidiary of Coastal Flow, Flow-Cal is a gas and liquid measurement software company with products purpose-built for the hydrocarbon measurement industry.
Flow-Cal software provides operational efficiencies by gathering, validating, storing and distributing a company's volume and energy data.
Quorum provides integrated solutions for its customers' core processing demands across the upstream, midstream and downstream segments of the oil and gas value chain.
The company's portfolio of innovative software addresses a broad spectrum of energy companies' needs, from operations to accounting, plant management, and financial forecasting.
Quorum is a software provider to over 75% of the largest oil and gas producers in the United States, and its technology powers 80,000 miles of pipeline and accounts for 80% of all natural gas processed in the US.
Financial details of the acquisition were not disclosed.
Credit Suisse Securities LLC and Macquarie Capital are serving as financial advisors to Quorum, and Kirkland and Ellis LLP is serving as its legal advisor.
PPHB Securities, LP is serving as financial advisor to Coastal Flow, and Locke Lord LLP is serving as its legal advisor. Financing for the transaction is being provided by Credit Suisse, Macquarie Capital, PSP Investments Credit USA LLC and Angel Island Capital.
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 EquityBites (EQB)|
|Date:||Feb 27, 2019|
|Previous Article:||Viper Capital Partners Acquires Berea Oilfield in Northern Central West Virginia.|
|Next Article:||Out-Of-Home Advertising Group Brite Media Rebrands Companies as Mesmerize.|