Monomoy Capital Partners completed a platform investment in Creedence Energy Services, a Minot, North Dakota-based provider of specialty chemical solutions for oil and gas infrastructure, extending the firm’s specialty-chemicals distribution experience into the power and energy sector. Financial terms were not disclosed. Co-founder and CEO Kevin Black retains a significant ownership interest and the existing management team continues to lead the business.
Creedence, founded in 2014, develops, tests, blends and distributes customized chemical treatments for production wells, midstream pipelines and saltwater disposal facilities across major US producing regions. It delivers more than 15 million gallons of chemical treatments a year through 22 locations, combining laboratory testing, proprietary formulations and field services that address scale accumulation, equipment failures, production inefficiencies and unplanned downtime.
For Monomoy the pitch is the recurring nature of the demand: chemical treatment is tied to keeping existing oil and gas assets running rather than to new drilling, making it a services-and-maintenance play on energy infrastructure rather than a commodity-price bet.