HOUSTON - Recapture Solutions has acquired Flex Leasing Power & Service. FLPS leases 250kw and 333kW Flex Turbines for remote well-site power generation to the North American oil and gas industry. Over the past two years, FLPS has developed a reputation for providing remote power in the harshest and most challenging environments with exceptional up-time and service quality. FLPS' fleet of turbines utilizes field gas, saving the customer money while performing better than a reciprocating diesel engine. Recapture provides flare reduction, remote power and natural gas fueling solutions to the oil and gas industry. FLPS will become part of Recapture's existing remote power generation business. Recapture is backed by Intervale Capital, a private equity firm which invests exclusively in oilfield manufacturing and service companies. Headquartered in Portsmouth, New Hampshire, FlexEnergy maintains a network of offices and key distribution partners in the U.S., Europe, South America and Asia.
FLPS launched in December of 2012 by partnering with FlexEnergy, a privately held manufacturer of micro-turbines. Following the close of the transaction, FLPS will remain the exclusive lessor of Flex Turbines for oil-field applications in the DJ Basin, Eagle Ford Shale, Permian Basin and Williston Basin. FLPS' fleet has tripled over the last 12 months and it currently operates nearly 50 MT250kW and MT333kW Flex Turbines.
FlexEnergy acquired Ingersoll Rand's Energy Systems division in 2010. Flex Turbines are capable of running on virtually any fuel gas - from low quality biogas to pipeline-quality natural gas to oilfield associated gas and overhead gas. In November of 2013, Distributed Generating Company of Russia closed a deal to acquire 200 MW of Flex Turbines for oil and gas field service over the next three years. Headquartered in Portsmouth, New Hampshire, FlexEnergy maintains a network of offices and key distribution partners in the U.S., Europe, South America and Asia.
Source: http://www.prnewswire.com/news-releases/recapture-solutions-acquires-flex-leasing-power--service-375751318.html
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