Black Bay Energy exceeded its expectation of $200 million with $210 million in their oversubscribed second fund.
“The Black Bay team is extremely grateful for the confidence placed in us by our investors,” said Michael LeBourgeois, Managing Partner at Black Bay. “We believe that our focused approach within the underserved lower-middle market energy sector will generate attractive risk-adjusted returns for our Fund investors and portfolio company partners.”
More about Black Bay Energy and their founded projects.
Black Bay Energy is dedicated to investing in other companies devoted to proven, next-generation products and services for instance. Everything focused on the energy market. Their main proposition is to improve economics, efficiency, and safety for the energy producers all the way through the hydrocarbon chain.
“Black Bay focused on partnering with talented management teams bringing next-generation solutions to the energy industry. Underinvestment in traditional forms of energy has limited the sources of capital for entrepreneurs with compelling businesses.” Said Guy Cook, Partner at Black Bay. Tom Ambrose, Partner at Black Bay, added, “The energy industry is under pressure to increase shareholder value. But needs to do so in a more environmentally & socially responsible manner. Black Bay is investing in companies that help the industry deliver on those objectives.”
As a result of joint efforts, we can see that two investments accomplishing their goals thanks to the fund.
- Piñon Midstream: It is a midstream service provider. Its priority is to gather, the treatment, and redelivery of sour gas. They basically remove and keep hydrogen sulfide (H2S) and carbon dioxide (CO2). By doing that, they unlock pressed, prolific oil &gas resources in the easter Delaware Basin.
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- Advanced Industrial Devices (AID): This provides control and automation solutions to the high-performance electric motor, for example. AID offers highly engineered and customized variable frequency drive control systems. Also, the system creation is for clients who are electrifying and instrumenting their compression, artificial lift, saltwater disposal, and industrial pump operations. Their focus is on the energy and industrial sectors.