PillarFour Capital Announces Investment in CLEANTEK Industries Inc.
May 31, 2018
PillarFour Capital Partners (“PillarFour”), an energy focused private equity fund, is pleased to announce an investment in CLEANTEK Industries Inc. (“CLEANTEK” or the “Company”). PillarFour is excited to be partnering with CLEANTEK’s founders and principal shareholders, along with management and employees to support the future growth of the Company.
Founded in 2009 as Horizon Oilfield Solutions Inc. (formally changed to CLEANTEK in 2017), the Company designs, manufactures and rents proprietary products for oil and gas drilling and production operations and the commercial construction industry. The Company’s primary products offer advanced, patented solutions to the waste water management and oilfield / construction lighting sectors. CLEANTEK’s products result in significant operating and maintenance cost savings, while at the same time reducing the overall environmental footprint.
“We are very excited to be providing growth capital to CLEANTEK,” said Mick McNulty, Managing Partner at PillarFour. “We are impressed with the strength of CLEANTEK’s forward thinking management team, the quality of their proprietary product portfolio and the Company’s well-crafted vision for expansion, growth and new product lines. We look forward to partnering with the CLEANTEK team and assisting them in their expansion efforts as they look to build on their portfolio of industry-leading and environmentally friendly products. Of note, waste water disposal and water management are increasingly pressing issues in the oil and gas industry globally and we believe CLEANTEK’s revolutionary solutions are positioned to become leaders in the sector.” In connection with the completion of this investment, Mick McNulty has been appointed as a member of the board of directors of CLEANTEK.
Josh Curlett, President & CEO of CLEANTEK commented, “We are pleased to be partnering with the PillarFour team. Their expertise in oilfield services and technology align perfectly with our vision for CLEANTEK and we are very excited about having them on board to assist in the Company’s next stage of growth.”
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