Press Release No. PR052008
AP Capital Partners Acquires eServices
Orlando, FL. – AP Capital Partners (APCP) announced today that it has successfully completed the asset purchase of eServices, Inc. (www.eservicesllc.com), a leading energy management company, based out of Richmond, Virginia. “We are extremely excited to bring eServices into the APCP portfolio,” said Richard Powell, Co-founder and Managing Partner of APCP. “Not only has eServices performed brilliantly historically, but, Bruce McDaniel and the entire management team have a clear plan in place to continue their impressive growth, while providing excellent service and driving significant value to their Fortune 1000 clients”. eServices is already one of the fastest growing business enterprises in the US. “We have found outstanding financial partners in APCP,” explains Bruce McDaniel, CEO of eServices.
eServices provides a variety of natural gas management services to natural gas marketers, utilities, small and mid-sized commercial/industrial firms and producers in the Southeast and Mid-Atlantic region of the US. ESI buys and sells natural gas, natural gas storage, and natural gas transportation, both at current prices and in short-term, hedged price arbitrage. ESI profits from identifying and capturing time and location differences in natural gas, natural gas storage, and natural gas transportation pricing. Major clients include MeadWestvaco, Virginia Power Energy Marketing, Washington Gas and many others. “eServices provides an excellent opportunity to capitalize on solid trends in the energy sector,” explains Frantz Alphonse, Co-Founder and Managing Partner of APCP. APCP reports that both seller and management hold meaningful ownership in the enterprise. The firm partnered with SPP Mezzanine, Patriot Capital, Spring Capital, and Plexus Capital for the mezzanine financing.
About AP Capital Partners, LLC
APCP is a private equity firm that undertakes long-term assignments in exceptional enterprises. The firm’s goals are to dramatically improve financial performance, deliver best-in-class products and services, and create
environments for employees. APCP delivers strong relationships, a true partnership approach, and effective execution to outstanding middle-market enterprises. The APCP team includes highly successful financiers, institutional investors, and entrepreneurs. For additional information, please visit www.apcpartners.com