Blue Point Capital Partners Exits LineStar Services, Inc.

CLEVELAND, Jan. 16, 2018 -- Blue Point Capital Partners announced today that it has sold its interest in LineStar Services, Inc. (“LineStar”) to LineStar Integrity Services LLC, a portfolio company of energy focused private equity firm, First Reserve.  LineStar was a portfolio company in Blue Point II, which is the Firm’s 2006 vintage middle-market buyout fund with commitments of $400 million.  Sale terms were not disclosed.

LineStar (www.linestar.com), headquartered in Houston, Texas, provides a full suite of integrity, maintenance and construction services to owners and operators of oil and gas midstream infrastructure through its operating subsidiaries Tucker Construction and Tucker Midstream.  The Company operates out of eight locations in Oklahoma and Texas, providing coverage throughout the Southwest United States.

“LineStar has an outstanding reputation for safety and exceptional operational performance,” said Sean Ward, a Partner with Blue Point. “Blue Point and the management team partnered to create a platform for acquisitive and greenfield growth in the midstream energy sector and scaled the business with significant investments in personnel, technology, and process.”

While partnered with Blue Point, LineStar completed four acquisitions that helped strengthen and expand the Company’s footprint, broaden and diversify its customer base and service offering, as well as opened four greenfield sites to support expansion.

“LineStar and Blue Point shared a vision to make significant investments to improve the business and build a growth-oriented platform.  As a result of our partnership, those opportunities expanded our presence and capabilities,” said Paul Neundorfer, former President and CEO of LineStar and newly appointed President, Midstream Operations at LineStar Integrity Services LLC. “We’re pleased with the results and look forward to our growth going forward while partnered with CEO Daniel Cowan and the team at First Reserve.”

Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $825 million in committed capital.  With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of a larger, global organization.  The Blue Point group has a 27-year track record of partnering with companies in the lower middle-market to facilitate growth and transformative change.  It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies.  Blue Point typically invests in manufacturing, distribution and service businesses that generate between $20 million and $200 million in revenue.

For more information, contact:

BLUE POINT CAPITAL PARTNERS, LLC
Sean Ward
Partner
127 Public Square, Suite 5100
Cleveland, OH 44114
(216) 535-4705
[email protected]

LINESTAR INTEGRITY SERVICES LLC
Paul Neundorfer
President, Midstream Operations
4203 Montrose Boulevard, Suite 470
Houston, TX 77006 
(832) 830-8531