Categorized | Energy Investment

Energy Smart Investments

Posted on 03 April 2013

Energy Smart Investments

Private equity firm Riverstone Holdings LLC, recently signed an agreement with Rhone Capital LLC to partner with Utex Industries, the largest rubber molder in the Southern United States.

Riverstone Holdings focuses on investments in the energy and power sectors. The firm is comprised of seven investment funds, including the largest renewable energy fund in the world, which altogether make up $24 billion of capital. On the conventional energy side, Riverstone conducts business in four major categories including exploration/production, midstream (transportation), energy services, and power/coal. Since 2003, the year that Riverstone began pursuing renewable energy investments, special attention has been given to wind, solar, biomass, and biodiesel types of energies.

The partnership with Utex will give Riverstone immediate access to equipment in tools used in oil and gas drilling, mining, water treatment, and other energy related activities.

John Lancaster, a Partner at Riverstone said, “This investment is consistent with Riverstone’s prior investments in niche manufacturing companies that provide engineered consumable products for which demand is driven by the increasing challenges of deeper, higher-pressure, and more service-intensive oil and gas drilling and production operations,”

David Leuschen founded Riverstone Holdings in 2000 along with co-founder Pierre F. Lapeyre Jr. Leuschen previously worked at Goldman Sachs for 22 years, where he was responsible for managing relationships with executives from notable companies in the energy and power industries including Amerada Hess, BP, Chevron, and Mobil, among many others. While at Goldman, he also head started the Goldman Sachs Global Energy & Power Group in the 1980s. Leuschen graduated from Dartmouth College, and frequently gives back to his alma matter and other causes he’s passionate about including organizations supporting his home states Montana and Wyoming, ranching, and the arts.

Sources: Riverstone LLC, Businessweek Image from: info.firstcarbonsolutions.com

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