Syntaxis Capital (“Syntaxis”), a leading provider of mezzanine finance in Central Europe, is pleased to announce that it has provided financing in support of the founders’ buyout and strategic development of Expert Petroleum, through its second mezzanine fund.
Expert Petroleum, primarily based in Romania, is an oil & gas services business that partners with some of the largest owners and operators in the oil & gas industries through long term contracts in order to increase production on their marginal and mature fields. It achieves this by introducing new technologies and lean operating practices, as well as in comprehensive human resources management, all aimed at improving efficiency while ensuring the Company meets industry-leading health, safety and environmental standards.
Coupled with the founders’ buyout, funds provided by Syntaxis will support the development of the Company’s production-enhancement activities across Romania and internationally.
Aleksander Majewski, the Syntaxis Director responsible for the investment, commented: “We are delighted to be supporting such an experienced management team, with such ambitious plans. They combine a wealth of technological know-how with a long-standing pedigree in international and local markets. As an investment thesis we liked the business development potential, coupled with stable cash flows associated with long-term contracts.”
Thomas Spring, a Syntaxis Partner also working on the project, added: “Expert Petroleum’s involvement and contribution in these strategic partnerships means that many mature assets managed by the majors can now continue to produce effectively, efficiently and profitably. This is great from an environmental standpoint as the investments significantly reduce energy consumption, leaks and other public hazards, which in turn help local communities. We look forward to supporting the Company in its further domestic and international development.”
David Martinon, Co-Founder and CEO of Expert Petroleum, added: “We are delighted to be partnering with Syntaxis. They have shown that they are transparent, responsive and committed to helping us build our business. We look forward to working with them over the years ahead.”
Syntaxis was advised by Macfarlanes in London and Deloitte, CMS Cameron McKenna and SpenCo in Romania. Expert Petroleum was advised by Leroy & Associatii in Romania and Bonn Steichen & Partners in Luxembourg.
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