PillarFour Capital Announces Investment in NuWave Corp.
November 16, 2017 Calgary, Canada
PillarFour Capital Partners (“PillarFour”), an energy-focused private equity fund, is pleased to announce that it has made an investment in NuWave Corp. (“NuWave” or the “Company”). PillarFour is excited to be partnering with NuWave’s three founders and principal shareholders, Kade Demuth, Tim Sharp and Troy Illingworth, who all retain a significant ownership in the Company.
Founded in 2010, NuWave offers a revolutionary new method for oil and gas well and pipeline abandonment. NuWave’s Canadian-designed and patented hydro-cutting (water jet) system offers dramatic improvements over the traditional cut-and-cap process, including increased safety, minimal environmental disturbance and significant cost reduction.
The Company’s well abandonment methods are suitable for oil wells, natural gas wells, pilings and pipeline risers. In addition, its compact, mobile hydro-cutting system is suitable for use in remote areas, on rugged terrain and in harsh weather conditions.
“We are very excited to be providing growth capital to NuWave” said Paul Colucci, Managing Partner at PillarFour. “We look forward to partnering with the NuWave team and assisting them in their expansion efforts, both here in Canada and in the U.S. The well and pipeline abandonment space is an important area of focus for us. Growing regulatory and environmental pressure to reclaim older infrastructure should prove to be key growth drivers for NuWave’s technology in North America.”
Kade Demuth, Chief Executive Officer of NuWave commented, “We are pleased to welcome the PillarFour team as investors and are excited about the potential of our partnership. Their experience in growing companies outside of the Canadian market will be integral to the success of NuWave in years to come.”
About PillarFour Capital
PillarFour is a global private equity fund with offices in Calgary and London, UK. PillarFour is focused on investing in private, oilfield service companies that have a differentiated business model and a sustainable competitive advantage through innovation. Our investment team is made up of dedicated energy professionals, offering our investee companies decades of operational, financial, strategic planning and capital markets expertise. We partner with high-quality management teams, putting in place strategies that maximize value creation by emphasizing operational excellence and prudent governance. www.pillarfourcapital.com
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