Apollo Funds Expand Portfolio with Bold Production Acquisition
Apollo Funds Expand Portfolio with Bold Production Acquisition
HOUSTON and NEW YORK — Recently, Apollo (NYSE: APO) announced an exciting development that showcases its commitment to innovation in energy solutions. Funds managed by Apollo affiliates, known as the Apollo Funds, have successfully acquired a majority interest in Bold Production Services, LLC. Bold is recognized as a leading provider of production-linked natural gas treatment solutions, focusing on enhancing the downstream utilization of natural gas while minimizing emissions and waste.
Bold Production Services: A Significant Asset
Founded in 2013, Bold Production Services has rapidly established a strong footprint in the natural gas sector, boasting a fleet of over 700 sophisticated assets. These include dehydration units and H2S treating units that cater to a diverse, high-profile customer base operating in critical regions such as the Permian and Eagle Ford basins. The investment by the Apollo Funds is designed to enhance Bold's growth trajectory, catering to the increasing demand for natural gas said to escalate dramatically in the coming years. This surge in demand is primarily driven by evolving industrial trends related to energy generation, LNG exports, and the expansion of data centers.
The Leadership Team at Bold
Under the guidance of Glen Wind, the Chief Executive Officer of Bold, the company is set to leverage this new partnership for substantial growth. Glen expressed enthusiasm about collaborating with Apollo, focusing on providing exceptional gas treatment solutions that significantly improve operational efficiency. The team includes Blake Maywald as President, Tim Burkett as Chief Financial Officer, and Austin Traweek as Chief Operating Officer, all of whom are committed to innovating the industry's best practices.
Customer-centric Solutions and Future Outlook
Glen Wind also noted the importance of maintaining high-performance, scalable treatment services which are critical for producers aiming for operational excellence. The optimistic outlook revolves around the partnership's ability to drive cleaner, safer operations and enhance production yields while reducing emissions. This synergy with Apollo provides a strategic advantage, enabling Bold Production Services to continue its momentum in the energy sector.
Strategic Importance of Apollo's Investment
Scott Browning, a partner at Apollo, praised Bold's established market position, highlighting its provision of essential gas treatment solutions. He underscored the significant growth potential stemming from robust customer relationships and advantageous opportunities for expansion. Apollo's expertise within the natural gas value chain not only positions them as a supportive partner for Bold but also contributes to the broader energy market evolution.
Investment Focus on Climate and Energy Transition
Over the past few years, Apollo's funds and affiliates have directed approximately $58 billion toward climate initiatives and energy transition projects, demonstrating a steadfast commitment to sustainable investments. This acquisition is congruent with Apollo's strategic goals related to climate transition, as they continue supporting innovative companies and projects that align with clean energy principles and infrastructure improvements.
About Bold Production Services and Apollo Global Management
Bold Production Services is an oil and gas infrastructure resource entity that specializes in contract services aimed at treating and eliminating impurities from natural gas, oil, and water. Additionally, Bold has broadened its service offerings to include production and treating equipment alongside an innovative non-triazine based H2S chemical scavenger.
Apollo Global Management, Inc. stands as a forward-thinking, global alternative asset manager managing approximately $751 billion in assets. The organization focuses on generating optimal returns across various investment strategies, including yield and equity, providing innovative capital solutions for a diverse array of businesses.
Contacting Apollo's Leadership
For more details on Apollo's initiatives and investment strategies, interested parties can reach out to:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com
Frequently Asked Questions
What is the main focus of Bold Production Services?
Bold Production Services primarily focuses on providing production-linked natural gas treatment solutions to enhance downstream applications while minimizing waste and emissions.
Who leads Bold Production Services?
The CEO of Bold Production Services is Glen Wind, who is supported by a dedicated team including Blake Maywald, Tim Burkett, and Austin Traweek.
What investment strategies does Apollo employ?
Apollo employs several investment strategies including yield, hybrid, and equity, tailored to provide maximum returns to its clients.
How much has Apollo invested in climate-related projects?
Over the past five years, Apollo-managed funds have invested approximately $58 billion into climate and energy transition initiatives.
Where is Bold Production Services headquartered?
Bold Production Services is headquartered in Houston, Texas, further enhancing its connectivity to key energy markets.
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