Service & Supply | General | New Company / Start-Ups | Capital Markets
Oaktree Capital Forms New Midstream Services Co.
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Funds managed by Oaktree Capital Management’s GFI Energy Group have partnered with management and a team of highly experienced oil and gas midstream services executives to acquire the oil and gas infrastructure services business from R-S-H Engineering, Inc.
The newly formed entity is named RSH Energy, LLC and is headquartered in Houston, Texas. RSH Energy is a full-service provider of survey, inspection, engineering and data management services for pipelines, compressor stations and related facilities.
Brian Murphy, who founded and led the business now comprising RSH Energy, will remain a key executive and has been promoted to Chief Operating Officer.
Murphy commented: "I am very excited to partner with Oaktree’s GFI Energy Group to continue to build on our strong reputation of safely delivering best in class services to our customers. Oaktree is committed to bolstering our company’s access to strategic resources and capital to pursue growth initiatives that will allow us to expand our service offering and geographic presence to further benefit and exceed the expectations of our valued customers. With the help of Oaktree, RSH Energy has already been able to recruit world-class executives and I look forward to working with them to continue to build on our team’s success."
Joining Brian is Jim Alexander, PE, who has been hired by RSH Energy as the Chief Executive Officer. Alexander is an experienced executive with over 30 years in leadership roles with midstream oil and gas engineering and field services companies. Prior to joining RSH Energy, he was the Vice President of the Oil and Gas Division at Hatch Mott MacDonald and ran the Woodlands, Texas office, which is primarily focused on providing pipeline and compressor station engineering and field services. He has previously held leadership positions with Exterran, Universal Pegasus, Foster Wheeler and Enron. Before that, he founded his own engineering firm, which he successfully grew and sold.
John Jackson has also joined RSH Energy as its Chairman of the Board. Jackson is a seasoned energy industry executive who currently serves as CEO of Spartan Energy Partners. Prior to founding Spartan, he was the Chairman and CEO of Price Gregory Services, a leading energy infrastructure services provider specializing in pipeline construction. Jackson has also served as President and Chief Executive Officer of Hanover Compressor and held several leadership positions at Duke Energy Field Services, including Chief Financial Officer.
Mark Chesler, Managing Director of Oaktree’s GFI Energy Group, said "Brian founded the RSH Energy business and has successfully grown it into a highly respected provider of engineering and field services for pipeline and compressor station owners with a reputation for responsiveness, quality, safety and effective integration of leading and proprietary technology. I am thrilled to expand the RSH Energy team with the proven leadership of industry executives like Jim Alexander and John Jackson who can help support and fuel the next stage of growth."